China Armco back in black; China yard to start late in ’09

Nov 17, 2008 | 12:38 PM | Paul Schaffer

China Armco Metals Inc. said Monday that its ferrous scrapyard in Jiangsu province, which will supply domestic recylables to domestic consumers, should begin operating in the third quarter next year.

China Armco, a Chinese trading company based for regulatory purposes in San Mateo, Calif., reported net income of almost $1.36 million in the third quarter this year in contrast to a year-earlier loss of nearly $2 million, on revenue that fell 25.4 percent to $20.4 million from $27.3 million.....

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