XI'AN, China, Oct. 20 /PRNewswire-Asia-FirstCall/ -- China Integrated Energy, Inc. (Nasdaq: CBEH; the "Company"), a leading non-state-owned integrated energy company in the People's Republic of China, today announced that it will host its first Annual General Meeting of Shareholders at 10:00 a.m. Thursday, November 18, 2010 (Beijing Time), at the biodiesel production facility of the Company located at Xiaobeibao Plant, Yaozhou District, Tongchuan City, Shaanxi Province, People's Republic of China. Only shareholders of record at the close of business on October 6, 2010 are entitled to receive notice of attendance and vote at this meeting or at any adjournment that may take place.
After the Annual General Meeting, shareholders, partners, investors and industry analysts are invited to attend a tour of the Company's newly-constructed second-generation biodiesel production facility. The tour is open to the public. Mr. Gao Xincheng, Chief Executive Officer of China Integrated Energy, and other members of the executive management team will lead the tour. To register to attend the tour, please contact Ted Haberfield, at +1-760-755-2716 or email to firstname.lastname@example.org.
The new production facility, which began construction in November 2009 at a cost of $15 million, is adjacent to the Company's existing 100,000 ton biodiesel production facility. This new plant is expected to add 50,000 tons to the Company's annual biodiesel production capacity, bringing total capacity to 150,000 tons. The Company is expected to have 200,000 tons of capacity by the end of 2010 through an acquisition of a Sichuan-based company with 50,000 tons of capacity.
About China Integrated Energy, Inc.
China Integrated Energy, Inc. is a leading non-state-owned integrated energy company in China engaged in three business segments: the production and sale of biodiesel, the wholesale distribution of finished oil and heavy oil products, and the operation of retail gas stations. The Company operates a 100,000-ton biodiesel production plant with a goal of doubling capacity to 200,000 tons in 2010 through both internal expansion and an acquisition. The Company utilizes an extensive distribution network to distribute traditional petroleum products, and operates twelve retail gas stations in China. For additional information on the Company please visit http://www.chinaintegratedenergy.com
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Safe Harbor Statement
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future use of the proceeds are forward looking and subject to risks. China Integrated Energy, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
China Integrated Energy, Inc.
Vice President, Investor Relations
HC International, Inc.
Ted Haberfield, Executive VP
SOURCE China Integrated Energy, Inc.