Greens Expands Global BusinessNew Orders in India Through Direct Efforts of Greens' Sales Office in Chennai

Booming power generation industry in India

HONG KONG, May 24, 2011 /PRNewswire-Asia/ -- GREENS HOLDINGS LTD ("Greens" or the "Company", together with its subsidiaries, the "Group"; stock code: 1318.HK), a leading manufacturer of key heat transfer products designed to enhance energy efficiency, has continued winning more new orders from customers in India for its premium heat transfer products. The Group established its Sales Representative Office in Chennai, India in 2009 to provide direct technical support and to market its products to customers, with its technical capabilities over 170 years in the power industry and the market of clean energy, energy efficiency and waste to energy.

The demands for power and clean energy projects and the investment in the infrastructures in the developing economies provided numerous business opportunities for Greens. The Group continues to expand its business in these key markets arising from its successful market entry strategies based upon its wide experience and long history. In 2011, Greens expects to secure more significant orders in India, exceeding the Group's initial targets as a result of the success with several projects completed and others are in progress. Greens has already reported success in these markets, following the release of its 2010 annual report in late March.

Greens has already secured several retrofit economizer projects for India's coal fired plants using Greens' Steel-H economizers. More significantly, the Group now supplies its first order of steel-H economizers to utility Coal-fired boilers in India. This mirrors the success that Greens had in China in 2002, where Greens has dominated the market thereafter. During 2010, Greens secured orders for Clean Energy projects that using low emissions combustion technology and supplying Atmospheric Fluidised Bed Combustion Boilers, and was confident to secure further orders for Circulating Fluidised Bed Combustion boilers. Besides, Greens has successfully secured two major projects for gas fired power generation to supply sizable Heat Recovery Steam Generators (HRSGs) for two of 225MW co-generation power plants, while the HRSGs are worked together with gas and steam turbines were supplied by the project developer.

With the experience in supplying HRSGs to international boiler companies, Greens has achieved success in securing these orders and favoured clean fuel technology for power generation industry. Also, Greens is cooperated with experienced project developers of the India market to optimize the design of its products and to directly supply to industrial and utility customers or boilermakers. Recently, Greens has been awarded several waste heat recovery projects by supplying specialized design of boilers. Further information will be issued in due course.

"The 11th Five Year Plan of India targeted to increase the power generation capacity by around 78,000MW, which brings golden opportunity to Greens to establish its firm standing in the India market," stated recently by Mr. Baskar Namasivayam,General Manager of Greens Power Equipment India Pvt. Ltd, a subsidiary of Greens. "Much bigger market share expected from the continuous expansion policies of the country's power generation facilities in the next five years (aimed at increasing power generation capacity by nearly 100,000MW). Greens will benefit directly from its direct sales to the local engineering, procurement and construction contract providers in India. A number of HRSGs have been delivered to India up to now and productions of more sets of HRSGs are in progress in Greens' core production base in JingJiang, Jiangsu. At the same time, Greens has benefited indirectly from such blooming market in India as it is being a qualified equipment supplier of coal-fired power plant equipment for the three leading boiler manufacturers in China. Those enterprises have had enormous orders with India for new power generation facilities, and will be delivered on the 12th Five Year Plan of India. Delivery of the first batch of Greens' Steel-H extended surface economisers has been commenced."

Green's subsidiary in Chennai of India experiences a fast development now. "Greens is a multinational corporation with strong British heritage and over 170 years of British brand name. With its experienced and highly skilled technical support team in 'the Home of the Economisers' in the UK, the Group has aroused strong attraction to customers in the former colony of the Commonwealth," added Mr. Baskar Namasivayam.

"Europe, USA, South Africa and Japan are the prime regions for coal combustion and they all were solid and extensive markets for Greens for many years. Having been successful in these regions, the Group needs to respond to the massive markets for its products in China, India and the rest of Asia," said Mr. Frank Ellis, Chairman, CEO and Executive Director of Greens. "As we can have highly productive manufacturing lines and low capital cost facilities here, that is the reason we moved to China a decade ago. The Group takes this opportunity to bring its 'Steel-H' technology to Asia, the biggest markets in the world, reflecting the Groups' directions in future additionally."

About GREENS HOLDINGS LTD (01318.HK)

Greens Holdings Ltd is a leading international supplier of key heat transfer products and solutions designed to enhance energy efficiency and help reduce heat and carbon dioxide emissions. Based in China and the UK, with manufacturing facilities in Shanghai and Jiangsu Province of the Yangtze River Delta, the PRC, Greens focuses on the manufacture of high quality economisers used in coal-fired power plants, waste heat recovery products such as Heat Recovery Steam Generators (HRSGs), waste heat boilers, marine products, boiler components as well as providing related services and repairs. Recently, Greens has diversified into other alternative energy solutions such as waste heat power generation and the production of wind turbine towers to benefit from the rising demand for alternative energy.

Greens has a global sales network which covers Europe, China, Japan, South and North America and other parts of Asia. It received certifications from leading agencies around the world, including ASME certificates in the US and the EN certificate in Europe.

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