Euro Tech Holdings Company Limited Reports Contracts Awarded to PACT
HONG KONG, March 25, 2013 /PRNewswire/ -- Euro Tech Holdings Company Limited (NASDAQ: CLWT) today announced that its subsidiary, PACT Environmental Technology Company Ltd. ("PACT") has recently been awarded 3 contracts worth about US$2.3 million from a company in Shanghai, China and two foreign companies outside China.
These contracts which cover design, supply, installation and commissioning of a 350 cubic meters per day wastewater treatment system for a Korean cosmetic company in Shanghai, China, a 12 cubic meters per hour Demineralized Water Treatment Package used in a liquefied natural gas (LNG) project for a Malaysian company in oil and gas industry, and an extension of a wastewater treatment contract for an Aluminum Rolling Mill in Saudi Arabia,
Apart from doing business in China, PACT has been working closely and actively with some international engineering companies to bid contracts outside China. PACT is positive that more and bigger contracts will soon be awarded because of its competitive prices and the high quality of its services.
PACT Environmental Technology Co. Ltd., based in Shanghai, is a global provider of environmental solutions for industrial and municipal clients, focusing on water and wastewater treatment. PACT's capabilities cover design, manufacturing, sourcing, installation and servicing of water/wastewater treatment, water desalination plants and equipment.
Certain statements in this news release regarding the Company's expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company's offices and operations situated in Hong Kong and China, doing business in China, competing with Chinese manufactured products, competing with the Company's own suppliers, dependence on vendors, and lack of long term written agreements with suppliers and customers, development of new products, entering new markets, possible downturns in business conditions, increased competition, loss of significant customers, availability of qualified personnel, negotiating definitive agreements, new marketing efforts and the timely development of resources. See the "Risk Factor" discussions in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F for its fiscal year ended December 31, 2011.
Euro Tech Holdings Company Limited, Hong Kong
T.C. Leung, Chairman and CEO, or Jerry Wong, CFO
PACT's Website: http://www.pactchina.com
SOURCE Euro Tech Holdings Company Limited