Secures Over US$14 Million Export Contracts
Signifies Industry Recognition and Leadership in Product Quality
HONG KONG, Nov. 17, 2010 /PRNewswire-Asia/ -- International Mining Machinery Holdings Limited ("IMM" or "the Company"; HKEX: 1683), a leading designer and manufacturer of underground longwall coal mining equipment in China, made its first step into the international market and delivered its first roadheader to Russia on 8 November 2010. Year-to-date, total international orders (from Russia, Australia and India) have exceeded US$14 million or HK$110 million.
Mr. Thomas H. Quinn, Chairman of IMM, said, "These international orders mark another significant milestone for IMM. The recognition of our market leadership has extended to international markets. Our legacy in product development, as well as our dedication to reliable and high quality products, will allow us to participate in more and more international markets, while we continue our strong performance in our Chinese domestic market."
Mr. Allen Chan, CEO of IMM, said, "Although the international market for longwall underground mining equipment may not be as dynamic as China, these international experiences will enable IMM to strengthen our service capabilities and adopt international applications on our product designs, this will further enhance our leadership position in China. We are in an excellent position to capture the opportunities from the ongoing drive for mechanization and consolidation in China."
According to BP Statistical Review of World Energy Report in 2009, China was the largest coal producer, accounting for 45.6% of the world's total production; the U.S. ranked second at 15.8%, followed by Australia at 6.7%, India at 6.2%, Indonesia at 4.6% and Russia at 4.1%.
About International Mining Machinery Holdings Limited (IMM)
International Mining Machinery Holdings Limited is a leading designer and manufacturer of underground longwall coal mining equipment in China. Three of its products are roadheaders, shearers and armored-face conveyors. Its end customers include all of the 50 largest coal producers in China, which collectively accounted for approximately 60% of the total coal production in China.
The Company has been listed on the Main Board of the Hong Kong Stock Exchange Limited since 10 February 2010 (stock code: 1683). On 6 September 2010, IMM became a constituent stock for the Hang Seng Composite Index and its sub-indexes, namely the Hang Seng Composite Industry Index -- Industrial Goods and Hang Seng Composite SmallCap Index.
To learn more about the Company, please visit the Company's website at:http://www.immchina.com