HONG KONG, Aug. 7 /Xinhua-PRNewswire-FirstCall/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) today announced that its subsidiary, Yixing PACT Environmental Technology Company Ltd. ("PACT") has recently signed its first contract in the USA amounting to US$ 2 million for a wastewater neutralization system to be manufactured in PACT facilities in China and installed at a state-of-the-art stainless-steel manufacturing facility in a Southern USA state. The contract covers manufacture, supply and supervision of installation to be delivered during the first half of 2009. This contract is in consequence to satisfactory completion of previous contracts executed by PACT in China for the same client.
Pact has also recently received an order for a package Membrane Bioreactor System (MBR) from a client in Saudi Arabia. This system will be the first supplied to Saudi Arabia. The client, an established water and wastewater contracting treatment company, has indicated that several other contracts will follow after delivery of this order. The MBR package consists of a biological treatment process incorporating special membranes supplied by Toray of Japan. The system will be shipped by end of November 2008.
About Pact:
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.
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, 2007.
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
http://www.pact-mfg.com
