Mon, 05 Apr 2004 07:27:03 -0600
New Public China Company Trading at all time HIGH!
Symbol: CGNT
Market: OTCBB
Sector: Granite mining and processing operations in the People's Republic of China
BREAKING NEWS: MIAMI, FL, Mar 12, 2004 /PRNewswire-FirstCall via COMTEX/ -- Arbor Inc.
(OTCBB:ARBR) announced today that the Company has changed its name to China Granite
Corporation and its trading symbol has been changed to (OTCBB:CGNT) on the Over the
Counter Bulletin Board. The Company is a Nevada corporation with its corporate office
located in Miami, Florida.
The change of name and symbol reflects CGNT's recent acquisition of China Laizhou Bay
Mining International Corporation a corporation organized under the laws of the British
Virgin Islands ("Laizhou"). CGNT intends on continuing the business operations of
Laizhou, which conducts granite mining and processing operations in the People's
Republic of China through its wholly owned subsidiary, Laizhou Jia Sheng Stone
Company, a limited liability company organized under the laws of the People's Republic
of China.
CGNT, through its subsidiaries, owns and operates two quarries in the Province of
Shandong, near the city of Laizhou in China. It also owns and operates a processing
yards and related buildings in the city of Laizhou. At present, 95% of the granite
material currently mined by the CGNT is sold for use in the booming domestic
construction sector in Northeastern China.
CGNT is also pleased to announce that it has broken ground on a new processing yard in
Laizhou, China. The yard will have seven buildings, and will be equipped with
state-of-the-art equipment and focus on high-volume production of granite slabs and
tiles. Upon completion of the new processing yard, the Company will have an increased
capacity to service the expanding domestic demand. CGNT's existing yard will be
phased-out in due course.
CGNT's President, Mr. Chen Dong, stated, "We have an opportunity to do something very
special. We are creating a model of how to combine business leadership and mining
skills from Europe, the Americas and China. We are undertaking a technological upgrade
of our mines and our factory processing equipment. These changes, among others, will
help place us in position to compete with other large suppliers of quality granite
products in China."
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