Greens Holdings Capitalize on Existing Capabilities to Explore the Wind Turbine Towers Manufacturing and Sales Business

HONG KONG, Nov. 24, 2010 /PRNewswire-Asia/ -- Greens Holdings LTD ("Greens" or the "Company", together with its subsidiaries, the "Group"; stock code: 1318.HK), a leading manufacturer of key heat transfer products designed to enhance energy efficiency, has announced earlier that its wind turbine towers manufacturing facility located in Tongliao will commence operations in 2010. This is another significant milestone in the corporate development of the Group subsequent to moving into the new energy industry by capitalizing on its engineering expertise in energy efficiency and its skilled workforce in the art of steel plate fabrication and welding.

Today, the new plant which being specifically designed for the production of high quality steel towers for wind turbines has been completed and deliveries of wind towers have already commenced in the fourth quarter of 2010. The plant will benefit from the strong demand for steel towers in the largest wind-farm in the nation, the Inner Mongolia prairie. This innovative, highly efficient and environmentally friendly project is being strongly supported by the municipal government of Tongliao city with encouraging administrative arrangements and financial support.

"The China market continues to add 7 to 8 GW of wind installed capacity per year, of which, Inner Mongolia, Heilongjiang, Jilin and Liaoning is our target market," said Mr. Frank Ellis, Chairman, CEO and Executive Director of Greens. "Looking ahead, Greens is set to optimize its leading position within the industry and realize its aggressive and clearly-defined strategic objectives, actively and systematically, thus becoming a leading global supplier of products that enhance energy efficiency and reduce emissions."

The production hall of the new plant is designed with a ceiling height of 35 metres enabling the fabrication of steel tower parts vertically and which will subsequently be assembled at the destination site to form wind turbine towers as tall as 100 metres, and able to support 1.5 MV wind turbines, giving Greens a competitive advantage. Since starting commercial operations in the fourth quarter of 2010, orders have begun to be received from leading wind power corporations in northern & western China.

"We will strive to maximize the return from such investment in Tongliao as a supplemental source of revenue. At the same time, our strengths and expertise in heat transfer products will not be forgotten, we will seize all profitable opportunities in our industry to explore strategic alliance and acquisition opportunities in such specialized area," added Mr. Ellis.

About Greens Holdings Ltd (01318.HK)

Greens Holdings Ltd is a leading international supplier of key heat transfer products and solutions designed to enhance energy efficiency and help reduce heat and carbon dioxide emissions. Based in China and the UK, with manufacturing facilities in Shanghai and Jiangsu Province of the Yangtze River Delta, the PRC, Greens focuses on the manufacture of high quality economisers used in coal-fired power plants, waste heat recovery products such as Heat Recovery Steam Generators (HRSGs) and waste heat boilers, marine products and boiler components, as well as providing related services and repairs. Recently, Greens has diversified into other alternative energy solutions such as waste heat power generation and the production of wind turbine towers to benefit from the rising demand for alternative energy.

Greens has a global sales network covering Europe, China, Japan, South and North America and other parts of Asia. It has received certifications from leading agencies around the world, including ASME certificates in the US and the EN certificate in Europe.

    For further information, please contact:

     Ms. Alman Loong
     Tel:   +852-3150-6731
     Email: [email protected]

     Ms. Christine Gu
     Tel:   +852-3150-6792
     Email: [email protected]

     Ms. Samantha Yeung
     Tel:   +852-3150-6735
     Email: [email protected]

     Fax:   +852-3150-6728

SOURCE Greens Holdings Ltd