Founded in 2001, China Armco Metals, Inc., is a U.S.-based Chinese company focused on the sales and distribution of recycled scrap steel and metal and nonferrous metal ores for China’s growing steel manufacturing industry. Part of our strategy as a public company is to act responsibly for our investors, making sound business decisions that will improve operational efficiency, take advantage of growing trends within the market, and ultimately increase revenue. We have streamlined the managerial hierarchy to ensure a clear chain of command and smooth flow of information and have taken steps to capitalize on the growing push toward sustainable solutions in steel production. Utilizing our existing supplier and customer relationships as a base, we have added recycled scrap metal to our product offering, opening a state-of-the-art recycling facility in Lianyungang, China.
On June 27, 2008, China Armco Metals successfully landed on the U.S. capital market and started trading under the symbol CNAM on the OTCBB. After many rounds of negotiations, discussions, rigorous evaluations, detailed due diligence processes, and audits, China Armco Metals’ value was recognized by Wall Street investment banks and investment professionals. On February 9, 2010, China Armco Metals successfully upgraded to the NYSE MKT.
The company has successfully negotiated through several rounds with investors and investment banks in an effort to go public by submitting to strict assessments and detailed due diligence, as well as passing an independent audit by a SEC authorized auditing firm. Though the process was complicated and hard, the outcome is outstanding. The investment banks and finance professionals now recognize the company’s value and prospect. Because of the good cooperative relationships to the investment banks and investors, the company’s development is now strongly supported in both capital and strategy and ensures a wide refinancing channel.
The corporate stock is at the introduction stage and has raised $9.1 million USD. As a public company, China Armco Metals will insist on “being responsible to the investors and making the greatest effort to heighten the profit,” to standardize company’s management structure, and to be an international company that can withstand the strict supervision by the SEC.
The company’s plan to expand Armco’s business globally, while focusing on the key scrap steel recycling construction project by its Lianyungang subsidiary.