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Guanwei Recycling Corp. achieved growth target with sales of 42 KT of recycled LDPE

January 20/2011

(Marketwire) - Guanwei Recycling Corp., China's leading clean tech manufacturer of recycled low density polyethylene (LDPE), announced today that, as forecasted, continuing strong demand in China for recycled LDPE in the fourth quarter ended December 31, 2010 resulted in full year sales for the Company of 42,000 tons of recycled LDPE.


Mr. Chen Min, Chairman and CEO of the Company, stated, "Achieving our previously estimated 2010 sales target caps an outstanding year for the Company in which we also saw continuing gains in product pricing, a significant strengthening of our raw material supply base, important upgrades of our zero discharge production facility and further diversification of our customer base."


The Company said it expects to announce audited full year results on or about March 31, 2011.


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