re CADC.
To me, it's not their product that's innovative. It's that they have mobile plants. I'm no expert here. I don't recall any USA ready-mix companies that have these in use here though .
You mean something like this:
odisa.com
I think this has been around forever. For example there are special floating plants for building concrete pylons and foundations for bridges.
Again, a complicated legal structure for small cement company. Also what does the bold paragraph mean - no direct ownership but contractual agreements to receive economic benefits... Strange stuff, especially considering what "contractual agreements" with foreigners in China are worth.
We own all of the issued and outstanding capital stock of Xin Ao Construction Materials, Inc., or BVI-ACM, a British Virgin Islands corporation, which in turn owns 100% of the outstanding capital stock of Beijing Ao Hang Construction Materials Technology Co., Ltd., or China-ACMH, a company incorporated under the laws of China. On November 28, 2007, China-ACMH entered into a series of contractual agreements with Beijing Xin Ao Concrete Co., Ltd., or Xin Ao, a company incorporated under the laws of China, and its two shareholders, in which China-ACMH effectively took over management of the business activities of Xin Ao and has the right to appoint all executives and senior management and the members of the board of directors of Xin Ao. While we have no direct equity ownership in Xin Ao, through these contractual agreements we receive the economic benefits of Xin Ao’s operations and are entitled to consolidate the financial results of operations and accounts of Xin Ao in our financial statements under U.S. Generally Accepted Accounting Principles. |
