China Architectural Engineering jumps on construction contract
China Architectural Engineering, Inc. (AMEX: RCH) shares are jumping after the construction company announced it was awarded a contract to build the façade for the China Water Conservancy Museum in Hangzhou, China. The company said this contract and the Hangzhou International Conference Center contract announced earlier this week are worth more than $8 million.
“As an important representation of China’s ancient architecture, the ‘Xiaoshan International Water City’ has finished construction in Hangzhou, China, and we are proud to announce that our company has been awarded the contract to install the external facade of the China Water Conservancy Museum,” CEO Ken Yi Luo said in a statement.
The museum will be built on the shore of the Qiantang River in the form of a traditional Chinese tower.
In pre-market trading, RCH shares are up 10.01%, or $0.70, at $7.69. Over the last 52 weeks, shares have ranged from $4.80 to $27.25.
