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Guanwei Recycling Corp. achieving full year sales forecast

December 10/2010

(Market Wire) -- Guanwei Recycling Corp., China's leading clean tech manufacturer of recycled low density polyethylene (LDPE), reported that based on strong October and November sales, and a continuing robust market for recycled LDPE, it is highly confident of achieving its previously announced sales goal for the full year.


As previously reported in its third quarter report for the period ended September 30, 2010, the Company sold nearly 31,000 tons of recycled LDPE through the first nine months of the year and forecasted that full year sales of recycled LDPE would reach or exceed 42,000 tons.


"Since then," stated Mr. Chen Min, Chairman and CEO of the Company, "through November, we have sold an additional 8400 tons of self-manufactured product and December sales are continuing on track. As we approach year end, we therefore remain very confident of another strong sales advance this year in line with our forecast."


Guanwei Recycling Corp. is China's largest manufacturer of recycled low density polyethylene (LDPE). Adhering to the highest "green" standards, it has generated rapid growth producing LDPE from plastic waste procured mostly in Europe for sales to more than 300 customers in ten different industries in China.


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