June 23, 2011
Andatee China Marine Fuel Services Corporation (NASDAQ: AMCF) (
, a leading producer, distributor, and retailer of quality marine fuel for small cargo and fishing vessels in
, today announced the completion of new blending facilities in Panjin City,
province, and Zibo City,
Construction of the Zibo City facility was completed
May 26, 2011
, and the Company believes that this new facility's close proximity to a network of refineries in
province will help to reduce the cost of procuring raw materials and the cost of transportation incurred by shipping products to customers in Shidao City,
province. Construction of the Panjin City facility was completed
June 21, 2011
, and is in close proximity to operations of Andatee's current major suppliers.
Mr. An Fengbin, Chairman, CEO, and President of Andatee China Marine Fuel Services Corporation, stated, "We are pleased to announce the completion of these two new blending facilities, both of which we expect will improve the Company's production capabilities in blending and reduce the cost of transporting raw materials from our major suppliers. We continue to focus on improving all aspects of our operations and look forward to keeping investors apprised of our efforts."
About Andatee China Marine Fuel Services Corporation
Andatee China Marine Fuel Services Corporation is a leading independent operator engaged in the production, storage, distribution, wholesale purchase and sale of blended marine fuel oil for cargo and fishing vessels in northern
. Andatee provides customers with value-added benefits, including single-supplier convenience, competitive pricing, logistical support and fuel quality control. Its products are substitutes for diesel used throughout east
fishing industry. Backed by core facilities, such as storage tanks, marine fuel pumps, blending facilities and berths (the space allotted to a vessel at the wharf) and small- to medium-sized cargo vessels, its sales network covers major depots along the towns of Dandong, Shidao and Shipu along the east coast of
. Additional information about the Company is available at
Safe Harbor Relating to the Forward Looking Statements
Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule under the Private Securities Litigation Reform Act of 1995. All forward-looking statements included herein are based upon information available to the Company as of the date hereof and, except as is expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. To the extent that any statements made here are not historical, these statements are essentially forward-looking. The Company uses words and phrases such as "guidance," "forecasted," "projects," "is expected," "remain confident," "will" and/or similar expressions to identify forward-looking statements in this press release. Undue reliance should not be placed on forward-looking information. The Company may also make written or oral forward-looking statements in its periodic reports filed with the U.S. Securities and Exchange Commission and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by these forward-looking statements. Such risk factors include, without limitation, our ability to properly execute our business model, to address price and demand volatility, to counter weather and seasonal fluctuations, to attract and retain management and operational personnel, potential volatility in future earnings, fluctuations in the Company's operating results, our ability to expand geographically into new markets and successfully integrate future acquisitions, our ability to integrate and capitalize on the recent acquisitions in Mashan and other markets, PRC governmental decisions and regulation, and existing and future competition that the Company is facing. Additional risks that could affect our future operating results are more fully described in our U.S. Securities and Exchange Commission filings, including our Annual Report on Form 10-K/A for the year ended
December 31, 2010
, filed with the SEC on
April 4, 2011
, and other subsequent filings. These filings are available at
. The Company may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the SEC and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.
Andatee China Marine Fuel Services Corp. Mr.
Chief Financial Officer+86-411-8360-4683
The Equity Group Inc.
Vice President(212) 836-9606
Account Executive(212) 836-9610
SOURCE Andatee China Marine Fuel Services Corporation