NEW YORK, June 28 /PRNewswire-FirstCall/ -- American Jianye Greentech Holdings Ltd. (OTC Bulletin Board: AJGH) (the "Company"), which is engaged in the business of developing, manufacturing and distributing alcohol-based automobile fuel products in the People's Republic of China, manufactured by its affiliate Tieling Jianye Greentech Ltd., announced today that it has begun construction of its second clean fuels production facility and fueling station located at the Xiangzhou Shilong Industry Zone, in Guangxi Zhuang Autonomous Region of Southern China.
American Jianye Greentech plans to invest 140 million RMB (Renminbi) during the next twelve months to build this facility which should be able to produce approximately 50,000 tons of biodiesel, 50,000 tons of civil use clean fuel, and 100,000 tons of automobile ethanol clean fuel with a maximum annual operating capacity of 200,000 tons when fully operational in 2011. Construction of the facility has already begun, with initial production expected to begin in late August, when a fueling station also opens for use providing a convenient refueling station for locally operated commercial vehicles.
Mr. Haipeng Wang, the Chairman of American Jianye Greentech Holdings Ltd., stated, "when complete this clean fuels production facility will significantly expand our refining and distribution capabilities in the southern part of China and help us meet current and future market demands for clean fuels required for civil and automobile use in that province." Wang continued, "Our second production facility under construction is also near completion and should come on line in late August as well. The anticipated revenues and profits generated from these two facilities should contribute significantly to our revenues and profitability this year."
About American Jianye Greentech Holdings: Jianye Greentech Holdings Ltd. is an alternative fuel company that develops, manufactures, and distributes alcohol-based automobile fuel products in the People's Republic of China. The Company's products are designed to function as a lower-cost, more environmentally friendly alternative to conventional gasoline-based auto fuel. For more information about AJGH, please visit www.americanjianyegroup.com .
Forward Looking Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by American Jianye Greentech Holdings, Ltd. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company with the United States Securities and Exchange Commission and other regulatory authorities.
For more information please contact:
Hanover Financial Services
Ronald J. Blekicki
SOURCE American Jianye Greentech Holdings Ltd.