China Architectural Engineering rises on construction contract news
China Architectural Engineering, Inc. (AMEX: RCH) shares are jumping in pre-market trading after the construction company announced it was awarded a contract to build the façade of the Hangzhou International Conference Center in Hangzhou, China. Financial details of the contract were not disclosed.
“The Hangzhou International Conference Center project is one of the most exciting projects that China Architectural Engineering has undertaken in recent years. The striking architecture is one reason,” CEO Ken Yi Luo said in a statement. “Another is the prominence of the structure, which will provide a high-profile display of CAE’s capabilities.”
In pre-market trading, RCH shares are up 15.11%, or $1.05, at $8.00. Over the last 52 weeks, shares have ranged from $4.80 to $27.25.
