Arbor Inc. changes name to China Granite Corporation and breaks ground on a new processing yard
March 12 2004 - 9:00AM
PR Newswire (US)
Arbor Inc. changes name to China Granite Corporation and breaks
ground on a new processing yard MIAMI, FL, March 12
/PRNewswire-FirstCall/ -- Arbor Inc. (ARBR:OTCBB) announced today
that the Company has changed its name to China Granite Corporation
and its trading symbol has been changed to 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 the Company's recent acquisition of China
Laizhou Bay Mining International Corporation a corporation
organized under the laws of the British Virgin Islands ("Laizhou").
The Company 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. The
Company, 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 Company is sold for use in the booming
domestic construction sector in Northeastern China. The Company 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. The
Company's existing yard will be phased-out in due course. The
Company'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."
FORWARD-LOOKING STATEMENTS Thispress release includes certain
"Forward-Looking Statements" within the meaning of section 21E of
the United States Securities Exchange Act of 1934, as amended. All
statements regarding potential results and future plans and
objectives of the Company, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from our expectations include, but are not
limited to, the results of geologic surveys, the outcome of assays
and additional sampling and drilling efforts, the availability of
funding for the future exploration and development of the Company
and or projects, potential governmental regulation and other
factors that will be disclosed under the heading "Risk Factors" and
elsewhere in our documents filed from time to time with the United
States Securities and Exchange Commission and other regulatory
authorities. Contact information: China Granite Corporation Michael
Miller Vice President of Investor Relations, E-mail: DATASOURCE:
Arbor Inc. CONTACT: China Granite Corporation, Michael Miller, Vice
President of Investor Relations, E-mail:
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