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The company, a U.S. owned, rapidly growing holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, issued a press release this morning announcing its wholly owned subsidiary, CDII Trading, Inc. (“CDII Trading”) has entered into a strategic partnership agreement with China Armco Metals, Inc. (“Armco”).
Under the terms of the agreement CDII Trading will assist Armco in procuring various metals including copper ore, manganese ore, chrome ore, and iron ore for distribution in China. As part of this relationship CDII Trading is in the process of arranging an initial shipment of copper ore sourced out of Zambia, Africa.
Armco is engaged in China in the sale and distribution of metal ore and non-ferrous metals to the metal refinery industry in China. Armco supplies a range of raw materials and scrap metals for various metal refining and steel manufacturing industries. Armco maintains customers throughout China which include steel producing mills and foundries in the PRC. Raw materials are supplied from global suppliers in India, Hong Kong, Nigeria, Brazil, Turkey, the Philippines and Libya. Armco's product lines include ferrous and non-ferrous ore; iron ore, chrome ore, nickel ore, copper ore, manganese ore and steel billet.
Commenting on this agreement, Mr. Ross Friedman, Commercial Trading Director of CDII Trading, Inc., stated, “We are excited to have forged this relationship and to begin sourcing metals and metal ore for Armco. We look forward to a long relationship with Armco and are working diligently to secure reliable long term sources for Armco and its end customers in China. We are very encouraged by the potential opportunities before us to source various metals for Armco and believe additional transactions will close in the coming months as we aggressively build this business.”
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