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China America Holdings, Inc. Aohong
Subsidiary Signs Agreement to Supply Refrigerant Product to China
FAW Group Corporation
June 27, 2008
China America Holdings, Inc. (OTCBB:CAAH), a holding company
operating in both the United States and China, announced that its
56% owned China based subsidiary Shanghai AoHong has signed an
agreement with China FAW Group Corporation to supply the company
with refrigerant R134A Product. This agreement is expected to
generate sales of approximately $2.5 million for the current year of
2008.
China FAW Group Corporation is the pioneer of China's auto industry
and the country's leading auto maker. FAW manufactures light,
medium, and heavy-duty trucks, cars, buses, and mini-vehicles. China
FAW produces more than seven million vehicles per year. FAW's
manufacturing facilities are located throughout China, and the
company has 27 subsidiaries and a controlling interest in 20 other
companies. China FAW has joint venture operations with Volkswagen,
Mazda, and Toyota.
Commenting on the contract, Dore Perler, CEO of China America
Holdings, stated, ¡°Aohong continues to establish business with
marquee customers as its distribution channel strengthens.
Management believes that this R134A supply contract with China FAW
will lead to a stronger relationship with China America and the
opportunity to increase product sales to China FAW in 2008.
Refrigerant R134A is an inert gas used primarily as a
"high-temperature" refrigerant for automobile air conditioners.
China FAW Group uses refrigerant R134A in the air conditioning
systems of manufactured automobiles.¡±
About China America Holdings, Inc.
China America Holdings, Inc. (OTCBB:CAAH) is a holding company with
operations in the U.S. and China. China America Holdings has two
operating divisions.
Shanghai Aohong Chemical Co., Ltd. based in Shanghai, China, is a
distributor of assorted liquid coolants which are utilized in a
variety of applications, primarily as refrigerants in air
conditioning systems for automobiles, residential and commercial air
conditioning systems, and a manufacturer of steel non-refillable
cylinders. For more information, please visit
http://www.shanghaiaohong.com/English/index.asp.
Sense Technologies, Inc., based in Ft. Lauderdale, FL, is a provider
of biometric solutions and micro-sensor identification systems.
Sense develops products targeting Homeland Security and offers
solutions that improve and secure many business, military, and
personal processes. Sense owns patents and intellectual property for
a MEMS based explosives detection technology licensed through a
national government laboratory. For more information about us,
please visit our corporate website at
http://www.chinaamericaholdings.com.
Safe Harbor Statement
In connection with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, China America Holdings,
Inc. is hereby providing cautionary statements identifying important
factors that could cause our actual results to differ materially
from those projected in forward-looking statements (as defined in
such act). Any statements that are not historical facts and that
express, or involve discussions as to, expectations, beliefs, plans,
objectives, assumptions or future events or performance (often, but
not always, indicated through the use of words or phrases such as
"will likely result," "are expected to," "will continue," "is
anticipated," "estimated," "intends," "plans," "believes" and
"projects") may be forward-looking and may involve estimates and
uncertainties which could cause actual results to differ materially
from those expressed in the forward-looking statements. These
statements include, but are not limited to, our guidance and
expectations regarding revenues, net income and earnings. In
addition, any such statements are qualified in their entirety by
reference to, and are accompanied by, the following key factors that
have a direct bearing on our results of operations: our ability to
effectively integrate our acquisitions and to manage our growth and
our inability to fully realize any anticipated benefits of acquired
business; our need for additional financing which we may not be able
to obtain on acceptable terms, the dilutive effect additional
capital raising efforts in future periods may have on our current
shareholders and the increased interest expense in future periods
related to additional debt financing; our dependence on certain key
personnel; the lack of various legal protections in certain
agreements to which we are a party and which are material to our
operations which are customarily contained in similar contracts
prepared in the United States; our ability to assure that related
party transactions are fair to our company; the business operating
risks and hazards inherent in the segments we operate in; the effect
of changes resulting from the political and economic policies of the
Chinese government on our assets and operations located in the PRC;
the influence of the Chinese government over the manner in which our
Chinese subsidiaries must conduct our business activities; the
impact on future inflation in China on economic activity in China;
the impact of any recurrence of severe acute respiratory syndrome,
or SAR¡¯s, or another widespread public health problem; the
limitation on our ability to receive and use our revenues
effectively as a result of restrictions on currency exchange in
China; our ability to enforce our rights due to policies regarding
the regulation of foreign investments in China; our ability to
comply with the United States Foreign Corrupt Practices Act which
could subject us to penalties and other adverse consequences; and
our ability to establish adequate management, legal and financial
controls in the PRC.
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