HANGZHOU, China, June 5 /Xinhua-PRNewswire/ -- Equicap, Inc.
(also called "Usunco Automotive") (OTC Bulletin Board: EQPI.OB) announced
today that its operating subsidiary, Zhejiang ZhongChai Machinery Co., Ltd.
completed the first commercial shipment of its diesel engine products on June
2, 2007, to a leading forklift producer in China. The diesel engines will be
installed in the forklifts produced by the forklift producer.
"We are very happy to see that ZhongChai Machinery has achieved
implementation of its distribution platform in China," said by Mr. Peter Wang,
Chairman and President of Equicap, Inc. "This shipment is an important
milestone for the company since its funding in April 2007," Mr. Wang
continued. Finally, Mr. Wang commented that the next step is for ZhongChai
Machinery to add more customers into its distribution channel and penetrate
its market fully.
Usunco Automotive
Usunco Automotive is a developer and distributor of components for the
industrial and farm equipment market, and of automotive parts from suppliers
in the People's Republic of China to customers in China, North America and
other regions. Usunco owns 100% of the equity interest of IBC Automotive
Products, Inc., the North American arm of Usunco, and 75% of the equity
interest of Zhejiang ZhongChai Machinery Co., Ltd., which serves as the
Chinese arm of Usunco business.
FORWARD LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the
business of Equicap, Inc. and its subsidiary companies, which can be
identified by the use of forward-looking terminology such as "believes,
expects" or similar expressions. Such forward looking statements involve known
and unknown risks and uncertainties that may cause actual results to be
materially different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are or will be
described in greater detail in our filings with the Securities and Exchange
Commission. These forward-looking statements are based on current expectations
and beliefs concerning future developments and their potential effects on the
company. There can be no assurance that future developments affecting the
company will be those anticipated by the company. These forward-looking
statements involve a number of risks, uncertainties (some of which are beyond
the control of the company) or other assumptions that may cause actual results
or performance to be materially different from those expressed or implied by
such forward-looking statements. The company undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise, except as may be required
under applicable securities laws.
