YANTAI, China, March 26, 2020 /PRNewswire/ -- Newater Technology, Inc. (NASDAQ: NEWA) ("NEWA", "we", "our" or the "Company"), a developer, service provider and manufacturer of membrane filtration products and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater, today announced that is has resumed production and business activities after the outbreak throughout of the novel coronavirus, commonly referred to as "COVID-19." During China's Spring Festival holiday, Newater actively conducted epidemic prevention, and obtained the government's approval to allow it to officially return to work on February 10, 2020. The Company emphasizes the continuous importance of safety and health for its employees and in its production, including comprehensive disinfection, and requiring all of its employees to have their temperature taken three times a day.
Newater's fully automated production line allows it to reduce the dependence on human labor and contact, creating a less labor-intensive working environment, which improves the production efficiency, and safety of its workers. Further, the Company believes the fully automated production line helped it return to work in a timely manner after the epidemic, mitigating the loss to its business operations and financial condition.
In December 2019, the Company entered into a General Contract for Advanced Treatment Project BT (Build and Transfer) of Mine Water (the "Contract") with Yulin Yuyang Zhongneng Yuandatan Mining Co. Ltd., for a coal mine wastewater treatment project (the "Project"). Pursuant to the terms of the Contract the Project is required to be completed by September 30, 2020. Currently, civil construction and drawing design for the Project has been implemented, and five sets of DTRO filtration equipment are under production and assembly at the same time.
On March 21, 2020, Newater completed the manufacturing of landfill leachate treatment equipment and successfully sent the equipment to a project site located in Panzhihua City, Sichuan province. At the same time, the Company is manufacturing multiple sets of water filtration equipment that will be dispatched to projects located in Sichuan Province, Nanjing city, and Baotou City in the near future.
With its own technological strength and management experience, Newater has steadily and efficiently achieved full-scale production after the COVID-19 outbreak. Newater plans to continually move forward in accordance with its business goals and creating more market-competitive products and services for society.
About Newater Technology, Inc.
Founded in 2012 and headquartered in Yantai, China, Newater specializes in the development, manufacture and sale of DTRO (Disk Tube Reverse Osmosis) and DTNF (Disk Tube Nano-Filtration) membranes for wastewater treatment, recycling and discharge. Newater provides integrated technical solutions in engineering support and installation, technical advice and services, and other project-related solutions to turn wastewater into valuable clean water. Newater also provides wastewater treatment services, such as landfill leachate treatment and purification services.
The Company's products can be used across a wide spectrum of industries, including:
- Landfill Leachate
- Industrial Park Common Effluent
- Wastewater from coal mines
- Briny Wastewater
More information about the Company can be found at: www.dtnewa.com.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend", "should", "believe", "expect", "anticipate", "project", "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding: 1) its response to COVID-19 and impact on its business; 2) the ability of its automatic production line to continue to offset losses to its business; 3) the successful completion of the Project; and 4) its ability to achieve its business goals including the creation of new products are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the water filtration industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
SOURCE Newater Technology, Inc.