SHENYANG, China, March 18, 2011 /PRNewswire-Asia/ -- NF Energy Saving Corp. (Nasdaq: NFEC) ("NF Energy" or the "Company"), a leading provider of energy management services and producer of energy efficiency products, announced today that it has signed a contract with China Guodian Corporation ("Guodian") for the supply of butterfly valves control systems. The contract value is RMB 3.08 million.
Pursuant to the contract, NF Energy will provide 16 electrical butterfly valve control systems and 8 hydraulic butterfly valve control systems to Guodian by August 2011.
"Guodian is a long-standing NF Energy customer and we are very pleased to work with them again," commented Mr. Gang Li, NF Energy's CEO. He added, "Although it is for a relatively small amount, we view this contract as a step in further strengthening our relationship with Guodian and in demonstrating our leadership in the energy conservation industry."
About China Guodian Corporation
China Guodian Corporation is one of the largest state-owned power generation groups in China. The core business of China Guodian includes the development, investment, construction, operation and management of power generation, and the sales of power and heat. China Guodian is engaged in both domestic and international financing, and international trade, economic cooperation, and international project contracting. It has a presence in 31 provinces (autonomous regions and municipalities), and over 120,000 employees.
About NF Energy Saving Corporation
NF Energy Saving Corporation (NASDAQ: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com
Safe Harbor Statement
The statements contained herein that are not historical facts are considered "forward-looking statements." Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the efficacy of investment in research and development are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov.
Investor Relations Contact:
Ms. Lihua Wang, Director & CFO
Mr. Mark Collinson, Partner
Tel: +86 24-8563 1159
Tel: +1 310-954-1343
NF Energy Saving Corp.
CCG Investor Relations
SOURCE NF Energy Saving Corporation