Tri-Tech Holding Wins Multiple Contracts in Water, Wastewater Treatment and Pollution Control
BEIJING, Sept. 14, 2012 /PRNewswire-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 seven contracts for wastewater, water treatment, water supply equipment procurement and industrial gas emission control projects. The aggregate value of all contracts is approximately $2.08 million (approximately RMB 13.18 million).
According to the contracts, the company will provide system procurement services of industrial wastewater and sewage treatment, hot water softening, water supply to multiple customers including a tourist attraction in Tengchong city of Yunnan Province, Shichuang Water Supply Company in Shenyang and, in Beijing, a real estate development project, a manufacturing facility for an internationally recognized automaker, and No.39 Middle School. In addition, the Company will implement a volatile organic compounds control system for a chemical workshop for Dongbao Biotechnology Co. Ltd. in Baotou city of Inner Mongolia. Tri-Tech expects to complete all the seven projects by December 2012.
Mr. Warren Zhao, Chairman and Joint CEO of Tri-Tech Holding said, "In the third quarter, we continued to make progress in our water and wastewater treatment, water supply and pollution control businesses. The expansion phase of the Ordos Water Treatment Plant is well under way, and we currently expect the trial operation of water treatment to start in November. We further anticipate that collecting 50% of the total cost and proceeds for the initial phase by the end of 2012. The Bihar Sewage System projects progressed remarkably as we recently completed all regulatory procedures required by the Reserve Bank of India. With these approvals in hand, we can now accelerate implementation steps such as civil construction, piping and engineering of sewerage facilities. We expect to generate on-going revenue for the third quarter from the India project and to record a significant contribution for the fourth quarter accompanying an initial cash payback. We will continue to advance our corporate strategic alignment to focus future growth on water treatment facility operation, maintenance, products and water treatment and water resources management solutions."
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and abroad. 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 approximately 446 people. Please visit 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 projects referenced herein 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.
Tri-Tech Holding Inc.
SOURCE Tri-Tech Holding Inc.