Tri-Tech Holding Awarded $1.59 Million Software Systems Contracts for Flash Flood Early Warning and Forecast in Beijing
BEIJING, May 2, 2012 /PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that it has secured contracts to develop core software systems for flash flood early warning and forecast projects in Beijing. The contracts totaled approximately $1.59 million (approximately RMB9.98 million).
According to the contracts signed by Tri-Tech's affiliate, Beijing Yanyu Water Tech Co. Ltd., the company will provide software systems for flash flood monitoring and forecasting systems for the City of Beijing and eight districts and counties around Beijing. In addition to the development of a series of databases and utility software, the company will be involved in procurement of equipment, system integration and installation, debugging and technical trainings to customers. These projects are scheduled for completion in early June 2012.
Mr. Warren Zhao, Joint CEO of Tri-Tech Holding commented, "In July 2011, the company won the flash flood monitoring and forecasting contracts for Changping, Yanqing and Pinggu counties in the Beijing area, and was involved in the implementation of numbers telemetry stations for flash flood early warning systems. These projects have been completed and were well received by the customers. Our new projects will mainly focus on software systems of flash flood monitoring and forecasting systems for eight districts and counties around Beijing as well as in the City of Beijing itself. As a part of a comprehensive forecast system, our projects will provide early warnings of rain storms, flash floods and debris flow to a majority of the areas around Beijing."
In terms of water conservancy dynamics, Mr. Zhao added, "We believe the government's investment in water resource management will continue to grow despite moderate overall economic growth. In 2012, the Chinese government is giving top priority to public health- and safety-related water conservancy infrastructure development. Thus, the implementation of flood control and disaster alleviation infrastructures, which ensure the safety of people's lives and properties, has been one of our core business areas. We expect spending will continue to be allocated in these developments in the next several years, and we will maintain stable sales from this key market."
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and international markets. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 39 software copyrights and 11 product patents, and employs 330 people. Please visit http://www.tri-tech.cn for more information.
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This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of the project referenced herein (including any potential future projects related thereto) and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Tri-Tech Holding Inc.