omniture

China Valves Technology, Inc. Changes Auditors

2008-02-22 01:51 1675

LOS ANGELES, Calif. and KAIFENG, China, Feb. 22 /Xinhua-PRNewswire/ -- China Valves Technology, Inc. (OTC Bulletin Board: CVVT) ("China Valves" or the "Company"), a leading metal valve manufacturer with operations in the People's Republic of China (PRC), announced that it changed auditors from Madsen & Associates CPAs, Inc. to Moore Stephens Wurth Frazer And Torbet, LLP.

The client-auditor relationship between China Valves Technology, Inc. and Madsen & Associates CPAs, Inc. ended as of February 19, 2008 in regard to all accounting and auditing services and all quarterly reports up through and including February 19, 2008. All accounting and auditing services and all quarterly reports from February 20, 2008 on will be handled by Moore Stephens Wurth Frazer And Torbet, LLP. There were no disagreements between China Valves Technology, Inc. and Madsen & Associates CPAs, Inc.

About China Valves Technology, Inc.

China Valves Technology, Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd. and Henan Kaifeng High Pressure Valve Co., Ltd., is engaged in the development, manufacture and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. One of the best known brand names in China's valve industry, the Company's history can be traced back to when it was formed as a state-owned enterprise in 1959. The Company's products are the result of extensive research and development which also led to a number of patented products and manufacturing processes. China Valves has significant market shares of valve sales to a number of domestic industries, and exports to the rest of Asia and Europe. The Company's website is http://www.cvalve.net/ .

Safe Harbor Statement

Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial condition to differ materially from what is included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. Potential risks and uncertainties include, among others, currently unknown and unforeseeable constraints on the Company's ability to continue operations, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in United States Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions in equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.

Source: China Valves Technology, Inc.
Related Stocks:
NASDAQ:CVVT
Keywords: Machinery
collection