NF Energy Saving Corp. Announces Contract with China State Shipbuilding Corporation
SHENYANG, China, March 28, 2011 /PRNewswire-Asia/ -- NF Energy Saving Corp. (Nasdaq: NFEC) ("NF Energy" or the "Company"), a leading provider of energy management services and producer of energy efficiency products, announced today that it has signed a contract with China State Shipbuilding Corporation ("CSSC") for the supply of flow control systems. The contract value is RMB 2.48 million.
Pursuant to the contract, NF Energy will provide one 2.9 meter diameter flow control system to CSSC which is destined for use in a nuclear power station in India. NF Energy will then provide a further three flow control systems to CSSC for onward export to India. These products are expected to be delivered during the fourth quarter of 2011.
"This is our first time working with CSSC and also our first delivery of a nuclear power station standard flow control system to a client that shows this level of advanced technology and cutting edge precision of our product," commented Mr. Gang Li, Chairman and CEO of NF Energy. "We will continue our product research and development, and, with contracts like this one, increase the utilization of our new plants while increasing customer satisfaction with our services."
About China State Shipbuilding Corporation
China State Shipbuilding Corporation (CSSC) is a large conglomerate and state-authorized investment institution directly administered by the central government of China. It boasts being the mainstay of the shipbuilding industry in China. Under its wing, there are 60 separate enterprises and shareholding institutions, including some of the most powerful and most renowned shipbuilding and ship repairing yards, research and design institutes, marine-related equipment manufacturers and trading firms in China.
About NF Energy Saving Corporation
NF Energy Saving Corporation (NASDAQ: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com
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Investor Relations Contact:
Ms. Lihua Wang, Director & CFO
Mr. Mark Collinson, Partner
Tel: +86 24-8563 1159
Tel: +1 310-954-1343
NF Energy Saving Corp.
CCG Investor Relations
SOURCE NF Energy Saving Corporation
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