DALIAN, China, April 26, 2011 /PRNewswire-Asia/ -- China Industrial Waste Management, Inc. (OTCQB: CIWT) ("China Industrial Waste Management" or the "Company"), a leading environmental services and solutions provider in China, today announced that its 70%-owned subsidiary, Dalian Zhuorui Resource Recycling Co., Ltd. ("Zhuorui") has commenced trial operations. The trials will last from thirty to sixty days, after which time management will determine if Zhuorui can commence production.
Zhuorui is engaged in the separation and purification of waste catalysts generated from the oil refinery process. Waste catalysts purchased from oil refineries are utilized by Zhuorui to produce ammonium metavanadate, molybdic acid, and nickel powder. Metals contained in the waste catalyst are a scarce resource and the Company expects a significant increase in the selling prices for Zhuorui's final products. The Company may decide to selectively sell some of those products in fiscal year 2011 depending on market conditions.
"We are very pleased to see commencement of trial operations at Zhuorui and look forward to moving to full production," commented Mr. Jinqing Dong, Chairman and Chief Executive Officer of China Industrial Waste Management. "We expect to officially launch this new revenue producing business unit during fiscal year 2011. This will not only allow us to further diversify our environmental businesses, but also complements our core industrial waste treatment business."
About China Industrial Waste Management
China Industrial Waste Management is a leading environmental services and solutions provider in China. The Company is based in Dalian, Liaoning Province, China and has been engaged in the industrial solid waste treatment business since 1991. Today, the Company is the largest industrial solid waste management enterprise in northeastern China. China Industrial Waste Management's main businesses are industrial solid waste treatment and recycling, municipal sewage and sludge treatment, and environmental protection engineering. For more information, please visit the Company's website (www.chinaciwt.com).
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SOURCE China Industrial Waste Management, Inc.