China construction America.pdfVIP

99 -911-408 R E VV : M A Y 2 , 2 0 1 1 R E G I N A M . A B R A M I W E I Q I Z H A N G China Constructioon America A : The Road Ahhead For the past 25 years, CSCEC hass worked with the utmost professionalism and dedication on America’s buildings and infrastructure and commmunications network. We all know that no detail is too ssmall when it comes to building in New York, andd CSCEC’s clients can attest to the value of its vast exxperience and responsive customer service in the at timmes unpredictable building and construction industry. — Michael R. Bloomberg, Mayor of New Yorrk City, 20101 Sitting in his bright Jersey City ooffice, Ning Yuan, president of China Construction AAmerica, Inc. CCA , the U.S. subsidiary of the CChina State Construction Engineering Corporation Lttd. CSCEC , had every reason to smile. CCAA had just celebrated its 25th anniversary. In adddition to its headquarters located in New Jerseyy, the company also had offices in Washington, D.CC., and South Carolina, as well as job sites in Neww York City. Under Ning’s leadership, CCA had groown to more than 500 employees, of which 85% were American. Approved new contracts had risen tto more than US$540 million in 2009, up fromm US$15 million in 2000 see Exhibit 1 for CCAA’s financial 2 information . Ning himself was surrrounded by accolades honoring his success, includinng the Asian Entrepreneur Excellence Award preesented by the Asian American Business Developmeent Center in 2009. At the same time, the econommic downturn of 2008 and the resulting recession in the U.S. construction industry threatened CCCA’s rapid growth. Ning had to figure a new way forwward, and at a time when the growing spotlight oon overseas Chinese business seemed only to cast thesse companies in a negative light. Would the U.S. construction industry bounce bac