ZHENGZHOU, China, Aug. 2, 2011 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that Henan Tonghai Fluid Equipment Co., Ltd. ("Henan Tonghai Fluid"), China Valve's PRC holding company, has been named one of China's Top 500 Machinery Manufacturers in 2011 by the China Machinery Enterprise Management Association ("CMMA").
The ranking evaluates the Company's brand, products and financial performance, among other factors.
"We are pleased to qualify on this prestigious list for the third consecutive year, further reflecting our leadership position in China's valve industry. We qualified among China's Top 500 Machinery Manufacturers in 2009 and 2010 also," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "We are encouraged by this recognition and will continue to work hard to create long-term value for our shareholders."
About China Machinery Enterprise Management Association
China Machinery Enterprise Management Association (CMMA) is founded in 1984. It is a national non-profit industrial mass organization composed voluntarily by enterprises, institutions, colleges, management social societies and managing staffs of the machinery industry. CMMA is sponsored by the State Asset Supervision & Administration Commission and its mandated China Machinery Industry Federation, instructed and supervised by Ministry of Civil Affairs, the state registration authority of mass organizations.
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou City ZD Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., China Valve Technology (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 to the public any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was developed by China Valves, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. 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.
China Valves Technology, Inc.
Gang Wei, CFO
CCG Investor Relations
Linda Salo, Account Manager
Tel: +1 646-922-0894
Crocker Coulson, President
Tel: +1 646-213-1915
SOURCE China Valves Technology, Inc.