BEIJING, Sept. 12, 2011 /PRNewswire-Asia/ -- Wowjoint Holdings Limited ("Wowjoint," or the "Company") (Nasdaq: BWOW, BWOWU, BWOWW), China's innovative infrastructure solutions provider of customized heavy duty lifting and carrying machinery, today announced it has signed a new equipment leasing contract for a 900-ton special launching carrier.
The No. 2 Engineering Co., Ltd of China Railway 22nd Bureau Group signed a nine month leasing contract for approximately $1.5 million. The special launching carrier will be used in the high-speed railway project from Yanbian to Jilin City and is specifically designed to pass through tunnels and function in the mountainous areas. The special launching carrier is currently in the commissioning and installation process and will meet the short time delivery requirements requested.
"We're pleased to enter this contract with No. 2 Engineering Co. Ltd, of China Railway 22nd Bureau Group and expand on our existing relationship with them," Mr. Yabin Liu, Chief Executive Officer of Wowjoint stated. "They have been a long-time client of Wowjoint and have been impressed by Wowjoint's high level of service and technical ability. Our equipment has enabled all of our clients to have a faster construction time, reduce costs and the capability to build in difficult terrains. We believe our continued service levels; technical expertise and specialized equipment will enable us to further develop our existing client relationships and continue to gain new customers."
About Wowjoint Holdings Limited
Wowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers and marine hoists. The Company's innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint is well positioned to benefit directly from China's rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint's products and other relevant information are available on its website at http://www.wowjoint.com.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Wowjoint undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the date of this communication. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. All forward-looking statements are qualified in their entirety by this cautionary statement. All subsequent written and oral forward-looking statements concerning Wowjoint or other matters and attributable to Wowjoint or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Wowjoint does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to the matters discussed in this news release.
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SOURCE Wowjoint Holdings Limited