China Armco Metals has announced that it has received approval to be listed on the New York Stock Exchange’s (NYSE) AMEX, starting Feb. 10. The company’s symbol will be CNAM.
The company is a distributor of imported metals and has also opened a scrap metal recycling facility in China that will be capable of processing 1 million metric tons of scrap metal. The company notes that it is one of the 10 largest recyclers of scrap metal in China.
"We are extremely pleased to receive approval for listing from the NYSE Amex,” says Kexuan Yao, CEO and chairman of China Armco. “This is an important step in the growth of our company as we look to enhance our corporate visibility and strengthen our shareholder base.”
“We have worked hard to position our company to meet the stringent requirements of the exchange and are honored to join the NYSE Amex group of companies. We are confident that this listing will significantly enhance our corporate image in the U.S. capital markets as we continue to grow our business in the coming years," Yao adds.