BEIJING, Jan. 20, 2011 /PRNewswire-Asia-FirstCall/ -- LianDi Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi" or the "Company"), a provider of downstream flow equipment, engineering services, software, and clean technology to China's leading petroleum and petrochemical companies, today announced it has signed an agreement with Ruhrpumpen, a leading manufacturer of pumps located in Witten, Germany, to become a distributor of Ruhrpumpen's products in China. Ruhrpumpen, with manufacturing or sales offices in six countries located on four continents, is a leading manufacturer of pumps and pumping technologies for a variety of industries, including oil and gas.
"We are delighted to have Ruhrpumpen as our new distribution partner in Asia," explained Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of the Company. "This agreement allows us to expand into pump solutions, a more than $1.5 billion market in the oil and gas and petrochemical industry and a new product offering for LianDi. By combining Ruhrpumpen's broad product portfolio with our strong relationships and servicing capabilities, we believe we are well positioned to capture a larger share of the Chinese oil refiners' rising capital expenditures."
About LianDi Clean Technology Inc.
LianDi was established in July 2004 to serve the largest Chinese petroleum and petrochemical companies. Through its four operating subsidiaries, Hua Shen Trading (International) Ltd., Petrochemical Engineering Ltd., Bright Flow Control Ltd. and Beijing JianXin Petrochemical Engineering Ltd., the Company distributes a wide range of customized valves and equipment and provides associated value-added technical and integration service. The Company also develops and markets proprietary optimization software for the polymerization process. In addition, LianDi is focused on the large, rapidly growing, clean technology market for oil refineries, projected to reach over $1 billion in the next 10 years. This market is expected to benefit from favorable Chinese government policies, including tax benefits and other incentives.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of LianDi and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the impact of the proceeds from the private placement on the Company's short term business and operations; the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov ).
