HONG KONG, Nov. 14 /Xinhua-PRNewswire-FirstCall/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) today announced that its associated company, Zhejiang Tianlan Desulfurization and Dust-Removal Co. Ltd. in Zhejiang, China ("Blue Sky") has recently been awarded six contracts totally US$ 4 million by various companies in China. The contracts cover design, manufacture, supply, and commissioning of desulphurization equipment for various applications.
Five contracts are for ten FGD equipment, (Flue Gas Desulphurization equipment), for boilers ranging from 35 tons/hour to 130 tons/hour of steam for applications in paper and cogeneration (heat and power) plants in Zhejiang. One contract is just for the system design fees of two FGD equipment for two 300 Mega Watt power plants in Xinjiang.
Blue Sky, found in 2000, is a fast growing company which provides a comprehensive service for design, general contract, equipment manufacturing, installation, testing and operation management of the treatment of waste gases emitted from various boilers and industrial furnaces of power plants, steel works and chemical plants.
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, 2007.
CONTACT:
Euro Tech Holdings Company Limited, Hong Kong
T.C. Leung, Chairman and CEO, or Jerry Wong, CFO
Tel: +852-2814-0311
Fax: +852-2873-4887
Website: http://www.euro-tech.com
Blue Sky's Website: http://www.tianlan.cn
