DALIAN, China, Aug. 8 /Xinhua-PRNewswire-FirstCall/ -- Dalian Dongtai Industrial Waste Treatment Company, a 90%-owned subsidiary of China Industrial Waste Management, Inc. (OTC Bulletin Board: CIWT) entered into a mutual cooperation agreement with Dalian Huaneng Xiaoyetian Cement Company, on July 23, 2008.
Under the agreement, the two companies agreed to cooperate on research and development related to the production of cement using solid waste. Dong Tai will supply Dalian Huaneng Xiaoyetian Cement Company with certain components of solid waste, which in turn will be used by Dalian Huaneng Xiaoyetian as raw material to produce cement.
The production of cement, using solid waste as raw material, is an environmentally friendly production method which allows solid waste such as foundry sand to be recycled and re-used. The cement maintains characteristics that are similar to those of traditional cement and can be utilized in construction projects such as buildings and roads.
Dalian Huaneng Xiaoyetian Cement Company is a joint venture with the Japanese Taiheiyo Cement Company, one of the largest cement manufacturing companies worldwide. The Taiheiyo Cement Company began producing cement using waste as raw material in 2001 and their current capacity for such cement is more than 200,000 tons per year.
CIWT CEO Mr. Dong commented "We hope the cooperation will lead to a new way to recycle and reuse solid waste and build a quality relationship with a new strategic partner. It is another positive step as we continue to move forward."
About China Industrial Waste Management, Inc.:
China Industrial Waste Management, Inc., through its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd., is engaged in the collection, treatment, disposal and recycling of industrial wastes principally in Dalian, China and surrounding areas in Liaoning Province. The Company provides waste disposal solutions to its more than 400 customers from facilities located in the Economic and Technology Development Zone, Dalian, PRC. Dalian Dongtai treats, disposes of and/or recycles a variety of industrial wastes through incineration, burial and/or water treatment, and recycles, processes and/or resells waste products for use as raw materials in the production of chemical and metallurgy products. In addition, Dalian Dongtai provides environmental protection services, technology consultation, pollution treatment services, and waste management design processing services.
Forward-looking Statements:
This release includes "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 further information, contact:
Ms. Guo Xin, CFO
Tel: +86-411-8581-1229
Email: hellenguo@chinaciwt.com
Mr. Zhang Dazhi, Company Secretary
Tel: +86-411-8259-5339
Email: darcy.zhang@chinaciwt.com
Website: http://www.chinaciwt.com
