HONG KONG, Sept. 5, 2012 /PRNewswire/ -- Euro Tech Holdings Company Limited (NASDAQ: CLWT) today announced that its subsidiary, PACT Environmental Technology Company Ltd.("Pact") has recently been awarded a contract worth about US$2.8 million by a U.S. Coal Tar Distillation Plant in Jiangsu, China. This contract covers design, supply, installation and commissioning of a 2,712 cubic meters per day industrial wastewater treatment system. Completion of this contract will be at the end of 2013.
BWTS (Ballast Water Treatment System) update:
Pact passed the BWTS land base test in China in 2012 and has to pass a 6-month seaboard test in order to get the necessary certifications of the system. Pact experienced some delays in the installation of the BWTS for seaboard test as the engineering room of the original ship was small and not very suitable for installation. It has recently completed the installation of its BWTS in another ship and expects to get all other approvals in the first quarter of 2014.
Ballast water treatment is an imminent requirement by The International Maritime Organization ("IMO") to prevent the biological unbalance caused by the estimated 12 billion tons of ballast water transported across the seas by ocean-going ships when their ballast water tanks are emptied or refilled. The market potential for retrofits and new installations of BWTS in these old and new ocean-going ships is enormous.
PACT Environmental Technology Co. Ltd., based in Shanghai, is a global provider of environmental solutions for industrial and municipal clients, focusing on water and wastewater treatment. Pact's capabilities cover design, manufacturing, sourcing, installation and servicing of water/wastewater treatment, water desalination plants and equipment.
Certain statements in this news release regarding the Company's expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company's offices and operations situated in Hong Kong and China, doing business in China, competing with Chinese manufactured products, competing with the Company's own suppliers, dependence on vendors, and lack of long term written agreements with suppliers and customers, development of new products, entering new markets, possible downturns in business conditions, increased competition, loss of significant customers, availability of qualified personnel, negotiating definitive agreements, new marketing efforts and the timely development of resources. See the "Risk Factor" discussions in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F for its fiscal year ended December 31, 2012.
Euro Tech Holdings Company Limited, Hong Kong
T.C. Leung, Chairman and CEO, or Jerry Wong, CFO
Pact's Website: http://www.pactchina.com
SOURCE Euro Tech Holdings Company Limited
|Euro Tech Holdings Company Limited Reports Interim Results For The Six Months Ended June 30, 2013 (2013/12/27)|
|Iao Kun Group Holding Company Limited Provides Update on Hong Kong Listing (2013/11/26)|
|Iao Kun Group Holding Company Limited Provides Update on Hong Kong Listing ()|
|Acquisition of Teche Holding Company by IberiaBank Corporation May Not Be in Shareholders' Best Interests (2014/1/13)|
|IBERIABANK Corporation Announces Agreement to Acquire Teche Holding Company (2014/1/13)|
|Teche Holding Company Stockholders Encouraged to Contact Securities Law Firm about Takeover (2014/1/17)|
|SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Teche Holding Company - TSH (2014/1/15)|
|INVESTOR ALERT - TECHE HOLDING COMPANY: The Law Offices of Vincent Wong Investigates the Sale of Teche Holding Company to IBERIABANK Corporation -- TSH (2014/1/21)|
|Ryan & Maniskas, LLP Announces Investigation of Teche Holding Company (2014/1/14)|
|Harwood Feffer LLP Announces Investigation of Teche Holding Company (2014/1/13)|
|Euro Tech Holdings Company, Ltd.||View clwt Stock Quote|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.