HONG KONG, April 7 /PRNewswire-Asia/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) today announced that its wholly owned subsidiary, Shanghai Euro Tech Environmental Engineering Ltd, has recently been awarded a contract by a petrochemical industrial park, worth about US$ 3.2 million. This contract covers design, supply, installation and commissioning of a (5,000 cubic meters per day) industrial wastewater treatment system in Guangxi, China.
Mr. T.C. Leung, Chairman and CEO of the company commented:
"We believe we are on the way to recover gradually from the global financial crisis which hit quite a number of companies badly in China including us in 2009. We also believe that our hard work in 2009 has paved way for more contracts to be materialized in 2010 for our group of companies."
Certain statements in this news release regarding the Company's expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company's offices and operations situated in Hong Kong and China, doing business in China, competing with Chinese manufactured products, competing with the Company's own suppliers, dependence on vendors, and lack of long term written agreements with suppliers and customers, development of new products, entering new markets, possible downturns in business conditions, increased competition, loss of significant customers, availability of qualified personnel, negotiating definitive agreements, new marketing efforts and the timely development of resources. See the "Risk Factor" discussions in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F for its fiscal year ended December 31, 2008.
CONTACT: Euro Tech Holdings Company Limited, Hong Kong T.C. Leung, Chairman and CEO, or Jerry Wong, CFO Tel: +852-2814-0311 Fax: +852-2873-4887 Website: http://www.euro-tech.com
SOURCE Euro Tech Holdings Company Limited