SOURCE: Yasheng ECO-Trade Corporation

July 09, 2010 10:13 ET

Yasheng ECO-Trade Corporation's Board Approves Name Change, 1:100 Reverse Split and Joint Venture

LOS ANGELES, CA--(Marketwire - July 9, 2010) -  On June 30, 2010, the board of directors of Yasheng ECO-Trade Corporation (OTCBB: YASH) (the "Company") approved the change of its name to ECO-Trade Corporation, the reverse split of the common stock of the Company on a 1:100 basis and a Joint Venture with CMARK. The implementation of the name change and the reverse split is subject to obtaining shareholder approval as well as making the appropriate filings with the Securities and Exchange Commission and FINRA. Acting President William Lieberman commented on the resolution, "We are entering a new era expanding our opportunities in the logistics and distribution business. Since we are no longer associated with the Yasheng Group, the Board felt we should drop Yasheng from our name and create our own brand in the marketplace which will be ECO-Trade Corporation."

In addition, Mr. Lieberman stated, "In order to best capitalize our company for future growth, the Board felt that initiating a reverse split at this time was in the best interest of shareholders going forward. It is imperative to understand that the planned reverse of 1:100 will not reduce the shareholders ownership interest in our company but will allow the Board to better manage our affairs."

The Board has also approved the company's entry into a Joint Venture and the formation of the Government Logistics Financing Corporation in partnership with CMARK. Mr. Lieberman stated, "This joint venture is a good opportunity for our company to expand our concept of a logistics center and be immediately involved in the distribution of goods. Our JV partner, CMARK, has established itself in the Government marketplace and currently has a sizable backlog that puts us to work immediately." 

About Yasheng ECO-Trade Corporation (OTCBB: YASH)
The Company's business has been the identification and acquisition of undervalued assets within emerging industries for the purpose of consolidation and development of these businesses and sale if favorable market conditions exist. The Company's objective is to find, acquire and develop resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk. The Company's competencies include financial services, mergers and acquisitions, accounting, real estate development and natural resources exploration. The Company is currently in the process of developing a logistics center.

About CMARK Group
CMARK International provides a wide array of facility and logistic support services including construction, architectural design, food service, furnishings and maintenance and operation services with a primary focus on US federal facilities. The company operates out of six offices throughout the United States with support facilities in Europe and Asia.

As an established Service-disabled Veteran-owned Small Businesses (SDVOSB), CMARK has built a strong franchise to meet the federal procurement opportunity represented by the Veterans Benefits Act of 2003 (Public Law 108-183) which requires U.S. government agencies and prime contractors to earmark three percent of all federal procurement dollars to high quality SDVOSB firms. For more information, visit http://www.cmark.org.

Forward-looking statements:
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

Contact Information

  • Contact:
    Yasheng ECO-Trade Corporation
    786-323-1650