China Armco to build scrap metal facility in China

China Armco Metals, Inc., a distributor of imported metal ore, plans to launch a new state of the art scrap metal recycling facility in China. The Company announced that Armet Renewable Resources Co, Ltd., the Company’s wholly-owned subsidiary, received a $13 million line of credit from the Bank of China in August.

Management anticipates it will commence operations at its 1 million ton recycling facility in the fourth quarter of 2009. It is anticipated that the metal recycled by Armet will be sold for use in the production of steel within China. China is currently the largest producer and consumer of steel in the world.