DONGGUAN, China, March 22, 2010 (GLOBE NEWSWIRE) -- China Vesting reconstituted its family of U.S. listed Chinese Public Company indexes on March 22, adding to the China Tiger Small and Mid Cap Index, China Armco Metals (NYSE Amex:CNAM), a leader in importing, sales, and distribution of metal ores and non-ferrous metals to the metal refinery industry in China.
Membership in the China Tiger Small & Mid Cap Index, comes after China Armco Metals was approved for listing on the NYSE Amex and following an announcement of a contract valued up to $100 Million to supply a major Chinese steel producer with up to 230,000 tons of scrap steel in 2010. China Vesting determines membership for its indexes primarily by objective, market-capitalization rankings and style attributes.
Already a member of the China 100 Index, used to help investors gauge the performance of U.S. listed Chinese Companies, China Armco has been upgraded from a member of the Dragon Undervalued Growth Index to a member of the Tiger Small & Mid Cap Index.
To read the full report regarding China Armco Metals inclusion into the China Tiger Small and Mid Cap Index, please navigate to: http://www.chinavesting.com/stocks/CNAM/DueDilligence.pdf
Total returns data for the China 100 Index and other China Vesting Indexes are available at http://www.chinavesting.com
About China Vesting:
China Vesting researches 500 of the top U.S. Listed Chinese Public Companies and tracks the best 100 with state-of-the-art performance benchmarks. China Vesting is based in Dongguan China an industrial city located in the Pearl River Delta. Dongguan borders the provincial capital of Guangzhou to the north, Huizhou to the northeast, Shenzhen to the south, and the Pearl River to the west. Our network consists of Chinese officials, investment bankers, venture capitalists, scholars, academics and most importantly entrepreneurs.
The China Vesting logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7254
About China Armco
China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and has entered the recycling business with the Company's acquisition of 22 acres of land for the construction and operation of a one million ton per year shredder and recycler of metals. The Company maintains customers throughout China which include the fastest growing steel producing mills and foundries in the PRC. Raw materials are supplied from global suppliers in India, Hong Kong, Nigeria, Brazil, Turkey, the Philippines and Libya. The Company's product lines include ferrous and non-ferrous ore; iron ore, chrome ore, nickel ore, copper ore, manganese ore and steel billet. Upon completion and testing of its new facility late in the fourth quarter of 2009, China Armco Metals expects to launch operations in its steel recycling and scrap metal recycling business early in 2010. The recycling facility is expected to be capable of recycling one million metric tons of scrap metal per year which will position the Company as one of the top 10 largest recyclers of scrap metal in China. Armco estimates the recycled metal market as 70 million metric tons. For more information about China Armco, please visit http://www.armcometals.com