Jinpan International Provides Update from Chairman

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Dec 31, 2014, 01:30 ET

CARLSTADT, N.J., Dec. 31, 2014 /PRNewswire/ -- Jinpan International Limited (Nasdaq: JST), a leading designer, manufacturer, and distributor of cast resin transformers, today provided an update from its Chairman following the termination of the proposed going private transaction.

Mr. Zhiyuan Li, Chairman and Chief Executive Officer of Jinpan International, stated, "Throughout the last three months, we have maintained our focus on the disciplined execution of our long-term growth strategy, which includes expanding and diversifying our product offering, increasing our sales to OEM customers, and prudently deepening our penetration of the domestic market. Jinpan is committed to the continued execution of these strategies to drive earnings growth and cash flow and, ultimately, create shareholder value. We appreciate the support of our shareholders and look forward to a prosperous 2015."

About Jinpan International Ltd

Jinpan International Limited (NASDAQ: JST) designs, manufactures, and markets electrical control and distribution equipment used in demanding industrial applications, utility projects, renewable energy installations, and infrastructure projects. Major products include cast resin transformers, VPI transformers and reactors, switchgears, and unit substations. Jinpan serves a wide range of customers in China and reaches international markets as a qualified supplier to leading global industrial electrical equipment manufacturers. Jinpan is one of the largest manufacturers of cast resin transformers in China by production capacity. Jinpan's four manufacturing facilities in China are located in the cities of Haikou, Wuhan, Shanghai and Guilin. The Company was founded in 1993. Its principal executive offices are located in Haikou, Hainan, China and its United States office is based in Carlstadt, New Jersey. For more information, visit www.jinpaninternational.com.

Safe Harbor Provision

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations and involve known and unknown risks, and uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors are listed from time-to-time in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 20-F for the period ended December 31, 2013 and our subsequent reports on Form 6-K. Except as required by law, we are not under any obligation, and expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Jinpan International Limited