This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Longwei Petroleum Signs Sales Agreements With Major Huajie Customers

TAIYUAN CITY, China, Oct. 29, 2012 /PRNewswire-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (NYSE MKT: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), today announced it has signed purchase agreements with nine major customers for its Huajie facility and received the endorsement of local government and business leaders based on a site visit to its new facility on October 23, 2012.

The Huajie facility site visit by local government leaders included Mr. Zhong, the General Director of the Fanshi County Commerce Bureau; Mr. An, the General Director of the Xinzhou Commerce Bureau; and Mr. Wang, the Vice Director of the Yuanping Railway Operations Bureau; in addition to other local business leaders. These leaders had high praise for Longwei's purchase of the Huajie facility.  They pledged their support to ensure its success by assisting Longwei to expand its customer base quickly by encouraging local enterprises in Fanshi County to utilize the new facility and increase their petroleum consumption.  The local leaders view the new facility as a stimulant for regional growth and as a key piece of infrastructure to support local employment and economic development. 

"We are pleased to receive the full support of the local government and business leaders, and their endorsement to help us build our customer base," said Cai Yongjun, Chairman and Chief Executive Officer of Longwei.  "Since opening the facility, we have signed contracts with at least nine major regional industrial companies in mining, steel and logistics.  We are looking forward to adding more customers and extending our reach into this fast-growing industrial area of northern Shanxi Province."

The officials toured the facility and new operations with the Company's management team.  Longwei demonstrated the facility's working processes, including storage and pumping operations, fire control, and other safety and environmental measures.  The group expressed a high degree of satisfaction with the facility's workflow, safety and quality control.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs