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Alpha Spacecom, Inc. Renamed as Beicang Iron & Steel Inc. after Acquisition of Chinese Business.

Publication: Business Wire
Publication Date: 03-NOV-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
BEIJING -- Alpha Spacecom, Inc. (OTCBB: ASCM)(the "Company") announced today that it has completed a merger with East Glory Investments Group, Ltd. ("EGIG"), a Cayman Islands corporation, by issuing an aggregate of 899,196,930 "restricted" shares of its authorized but previously unissued Common Stock, representing 90% interest, to the stockholder of EGIG in exchange for all of the issued and outstanding common stock of EGIG.

EGIG, through its wholly owned subsidiary, Shanxi Bestlink Management Consulting Co. Ltd. ("Bestlink"), has entered into certain exclusive agreements with Pinglu County Changhong Ferroalloy Co. Ltd. ("PL") and Fanshi County Xinyu Iron Resources Co. Ltd. ("FS"). PL and FS hold the licenses and approvals necessary to operate...

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