ZHENGZHOU, China, Dec. 14, 2010 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (Nasdaq: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that the Company has been awarded the "Highest Growth Company of 2010" by the CE Premier: 2010 Overseas Listed Leadership. The distinction is awarded by China Entrepreneur, who hosts exclusive multi-day professional forums that provide comprehensive insights for pre-IPO and public Chinese companies. The event is supported by KPMG, Wall Street Journal, Reuters, NYSE Euronext, NASDAQ, and other prominent organizations.
About 20 overseas listed companies were included in the final selection for the title "Highest Growth Company of 2010," of which 10 companies were nominated. After rounds of discussion by the committee, China Valves was awarded the highest distinction because of its fast growth in recent years. China Valves is the only winner in this category.
"We are pleased to receive this award, which reflects our many achievements this year," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "We will take this as a great opportunity to work even harder to make China Valves evolve and become an even more respected great enterprise."
"The distinction 'Highest Growth Company of 2010' is not only an award to us, but also a motivation for further rapid growth," said Mr. Siping Fang, Chairman of China Valves. "We plan to execute on our current development strategy and undertake more social responsibilities in the future, while creating maximum value for our shareholders in the process."
About CE Premier
CE Premier is an executive-targeted brand, hosting exclusive multi-day forums for pre-IPO and public overseas listed Chinese companies. These forums provide comprehensive insights into specific industries and themes. This brand focuses on subjects such as IPO, M&A, up-to-date accounting regulations, and maintaining liquidity along with other subjects necessary to maintaining a competitive public company. CE Premier is the capital markets-focused brand of the CEBEX Group.
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., Able Delight (Changsha) Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd., is engaged in the development, manufacturing and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China's valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products through extensive research and development and owns a number of patents. It enjoys significant domestic market share and exports to Asia and Europe. For more information, visit http://www.cvalve.com.
Safe Harbor Statements
Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. This press release is based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
SOURCE China Valves Technology, Inc.