HONG KONG, Feb. 9 /PRNewswire-Asia/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) today announced that its subsidiary, Yixing PACT Environmental Technology Company Ltd. ("PACT") has recently been awarded a contract by a Korean stainless steel company, worth about US$ 3.8 million. This contract covers design, supply, installation and commissioning of a (5,000 cubic meters per day) wastewater treatment system, a (860 cubic meters per hour) direct cooling water system, a (4,500 cubic meters per hour) indirect cooling tower water system, a (50 cubic meters per hour) deionized water treatment system, a (140 cubic meters per hour) potable water treatment system and a (340 cubic meters per hour) industrial water treatment system in Jiangsu.
Zhejiang Tianlan Environmental Technology Co. Ltd., ("Blue Sky"), an associated company of Euro Tech, has recently been awarded three contracts totally US$5.6 million by three companies in China. The contracts cover design, supply, installation and commissioning of desulphurization equipment for various applications. The contracts are for four FGD equipment, (Flue Gas Desulphurization equipment), for boilers of ranging from 35 to 410 tons/hour of steam for applications in cement, paper and petrochemical plants in Sichuan, Shandong and Zhejiang, respectively.
About Pact:
Pact Environmental Technology Co. Ltd., ("Pact"), based in Shanghai, is a global provider of environmental solutions for industrial and municipal clients, focusing on water and wastewater treatment. Pact's capabilities cover design, manufacturing, sourcing, installation and servicing of water/wastewater treatment, water desalination plants and equipment.
About Blue Sky:
Zhejiang Tianlan Environmental Technology Co. Ltd., in Zhejiang, China ("Blue Sky"), found in 2000, is a fast growing company which provides a comprehensive service for design, general contract, equipment manufacturing, installation, testing and operation management of the treatment of waste gases emitted from various boilers and industrial furnaces of power plants, steel works and chemical plants.
Certain statements in this news release regarding the Company's expectations, estimates, present view of circumstances or events, and statements containing words such as estimates, anticipates, intends, or expects, or words of similar import, constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include, without limitation, having the Company's offices and operations situated in Hong Kong and China, doing business in China, competing with Chinese manufactured products, competing with the Company's own suppliers, dependence on vendors, and lack of long term written agreements with suppliers and customers, development of new products, entering new markets, possible downturns in business conditions, increased competition, loss of significant customers, availability of qualified personnel, negotiating definitive agreements, new marketing efforts and the timely development of resources. See the "Risk Factor" discussions in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F for its fiscal year ended December 31, 2008.
CONTACT:
Euro Tech Holdings Company Limited, Hong Kong
T.C. Leung, Chairman and CEO, or Jerry Wong, CFO
Tel: +852-2814-0311
Fax: +852-2873-4887
Website: http://www.euro-tech.com
Pact's Website: http://www.pactchina.com
Blue Sky's Website: http://www.tianlan.cn
