Replies to post #44281 on Langlui's Big Board and Options Plays

[langlui]

China Architectural Engineering Announces New Contract to Build Resort Near Shanghai
On Wednesday June 24, 2009, 4:25 pm EDT

ZHUHAI, China & LOS ANGELES--(BUSINESS WIRE)--China Architectural Engineering, Inc. (CAE) (NASDAQ: CAEI - News), a leader in the design, engineering, fabrication and installation of high-end building envelope systems, today announced that it has entered into a new agreement with Shanghai Nine Dragon Co., Ltd. (http://www.ninedragon.com.cn) to undertake the major projects located in the Nine Dragon Resort, Zhejiang, including a seven star hotel, a marine park and luxurious villas. The total project value is expected to exceed $500 million. The projects are expected to commence in the second half of 2009 and be completed within three years.

The Latest Update on the Current Projects

CAE’s work on the Dubai Metro System is expected to be completed in the third quarter as well as the projects in US and Doha, which will be completed within this year. CAE expects the project completions to provide more resources to build the aforesaid new projects. Meanwhile, due to the global financial crisis and other various factors, the company cannot utilize sufficient resources to continue the Singapore project. Given the uncertain global economic outlook and the limited company resources, CAE has decided to give up the project and reallocate resources towards other projects.

China Architectural Engineering Chairman and CEO Ken Yi Luo commented, “Our latest project update shows the effects of an uncertain global economic outlook. The termination of our Singapore project is a disappointment, of course, but it is also noteworthy that we continue to gain new business in our core domestic market of China. Here, our track record and extensive network of contacts in the public and private sectors are enabling us to take advantage of the Chinese government’s aggressive stimulus spending. In the future, we will gradually develop some good business that will produce steady revenues for the company to offset the impacts from the volatile construction industry.”

About China Architectural Engineering

China Architectural Engineering, Inc. (NASDAQ: CAEI - News), which began operations in 1992, has maintained a leading position in the global commercial construction industry by providing timely, high-quality, reliable, fully integrated and cost-effective service solutions to our clients utilizing specialized technical expertise in the design, engineering, fabrication and construction of structural exterior cladding systems. It 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.

CAEI has worked with world-renowned architects and building engineers from China and other countries and has completed over one-hundred large, complex and unique projects throughout China, Hong Kong, Macau, Australia and Southeast Asia, including numerous award-winning landmark buildings in many of Asia’s major cities. CAE has also expanded beyond China into some of the growing construction markets in the world, such as Middle East, Central Asia and Eastern Europe.

[Trops]

Damn,That was top on my list to buy.Banging my head against the wall.lol Cbl treated me well today.5.02 Monday buy 5.42 sold today.Dropped back with the djia.Winnas everywhere.:)))))))))))))))))