Guanwei Granted Expanded Imported Waste Quota; Sets Sights on Increased Production

Guanwei Recycling Corp. GPRC announced today that it received official government approval for expansion of its quota for imported plastic waste which will allow continued strong growth of its recycled plastic production. Having met the rigorous requirements for obtaining the higher quota, the Company reported its aggregate quota of 59,000 tons of imported plastic waste has been increased to 99,000 tons in 2011, which will grow to 185,000 tons next year, following another required abbreviated permitting process. Further, all 40,000 additional tons in its quota this year are in Guanwei's name, as will be 150,000 tons of the quota next year. An additional 35,000 tons continue to be in the name of another company which has contracted them to Guanwei for a ten year period.