China Architectural Engineering, Inc. (CAEI)

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China Architectural Engineering (NASD: CAEI) specializes in high-end curtain wall systems (including glass, stone and metal curtain walls), roofing systems, steel construction systems, eco-energy saving building conservation systems and related products, for public works and commercial real estate projects. It just got added to the Halter USX China Index. Trading at $37.24M with a book value of $78.2M for a company that does specialty construction projects looks like a steal, especially when they made $22.6M in the first 9 quarters of 2008. They lowered their guidance for Q4 2008 and they are eating some cost overrun costs. Recent news includes that they were awarded two new contracts for projects valued at $80 million in Dubai and Singapore. The Company also reported that its project backlog has increased to a new record of $245M.