DALIAN, China, Aug. 30 /PRNewswire-Asia-FirstCall/ -- China Industrial Waste Management, Inc. (OTC Bulletin Board: CIWT) ("China Industrial Waste Management" or the "Company"), a leading environmental services and solutions provider in China, today announced that the Company's 90%-owned subsidiary, Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dalian Dongtai"), signed a waste management cooperation contract (the "Contract") with Dalian Onoda Cement Co., Ltd. ("Dalian Onoda") to process industrial waste utilizing Dalian Onoda's cement kiln. Dalian Onoda Cement Co., Ltd is a cement production venture owned by Taiheiyo Cement Co., Ltd (a leading multinational cement producer in Japan).
Dalian Dongtai signed a Letter of Intent with the Dalian Onoda on November 8, 2009, and, since that time, the two firms have processed 3,000 tons of solid waste in a trial run. As an additional element of the Contract, a research team will be formed by the two companies to develop new waste management methods and technologies based on lessons learned from the collaboration.
The treatment of solid waste by means of cement kilns is a goal of waste management professionals around the world and represents a growing trend. An important advantage of this approach is the combination of environmental benefits and resource utilization. Countries with developed waste management infrastructures, such as Japan, Sweden and the United States, reduce coal usage by millions of tons per year by employing cement kiln techniques. In this process, certain organic waste products are used as fuel in the production of cement, which otherwise would consume significant quantities of fossil fuels-typically coal. Moreover, some inorganic wastes, such as casting sand, are used as raw materials for the cement. Candidate waste materials include a wide variety of items, such as waste tires and waste plastics, along with hazardous wastes such as solvents and oils.
"We are excited to announce this collaboration with Dalian Onoda and the addition of another important waste treatment method to our business that substantially boosts our industrial waste processing capacity," said Mr. Jason Dong, Chief Executive Officer. "Given the massive scale of China's cement industry, we feel the development of cement kiln waste processing has significant potential, and the environmental benefits should also be considerable. The current hazardous waste management capacity of the facilities operated by Dalian Dongtai is 56,000 tons per year. Through our cooperation with Dalian Onoda, we believe Dalian Dongtai will be able to increase its current hazardous waste management capacity by 36% or 20,000 tons per year immediately and by 125% to 143% or 70,000 to 80,000 tons per year within the next five years."
About Dalian Onoda Cement Co., Ltd.
Dalian Onoda is a cement production plant which was established by Taiheiyo Cement Co., Ltd. (a leading multinational cement producer in Japan). Dalian Onoda was designated as a trial plant as the result of a cooperation agreement between the governments of Norway and China. The Dalian Onoda cement plant has mature and advanced production technology and facilities that utilize industrial waste as a raw material for cement.
About China Industrial Waste Management
China Industrial Waste Management, Inc. is engaged in the collection, treatment, disposal and recycling of industrial wastes principally in Dalian and surrounding areas in Liaoning Province, People's Republic of China through its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dalian Dongtai") and other indirect subsidiaries. Dalian Dongtai treats, disposes of and/or recycles many types of industrial wastes, and recycled waste products used by customers as raw material to produce chemical and metallurgy products. In addition, Dalian Dongtai treats or disposes of industrial waste through incineration, burial or water treatment, and provides environmental protection services, technology consultation, pollution treatment services, waste management design processing services, waste disposal solutions, waste transportation services, onsite waste management services, and environmental pollution remediation services. For more information, please visit the Company's website ( http://www.chinaciwt.com ).
Cautionary Statement Regarding Forward-Looking Information
This release may include "forward-looking statements." You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain such words as "may," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or the negative or other variations thereof or comparable terminology. These forward-looking statements are based on current expectations and projections about future events. Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, our actual performance may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, as well as other factors described from time to time in our reports filed with the Securities and Exchange Commission: the timing and magnitude of technological advances; the prospects for future acquisitions; the effects of political, economic and social uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, the possibility that a current customer could be acquired or otherwise be affected by a future event that would diminish their waste management requirements; the competition in the waste management industry and the impact of such competition on pricing, revenues and margins; uncertainties surrounding budget reductions or changes in funding priorities of existing government programs and the cost of attracting and retaining highly skilled personnel; our projected sales, profitability, and cash flows; our growth strategies; anticipated trends in our industries; our future financing plans; and our anticipated needs for working capital. Forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
For more information, please contact:
Company Contact:
Mr. Darcy Zhang, Director of Investor Relations
Tel: +86-411-8259-5339
Email: darcy.zhang@chinaciwt.com
Web: http://www.chinaciwt.com
CCG Investor Relations:
Mr. Athan Dounis, Account Manager
Tel: +1-646-213-1916
Email: athan.dounis@ccgir.com
Web: http://www.ccgirasia.com
