- $100 million market opportunity in China
- Modules based on proprietary technologies from recently secured patents
BEIJING, Sept. 16 /PRNewswire-Asia/ -- LianDi Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi" or the "Company"), a provider of clean technology, downstream flow equipment, engineering services and software to China's leading petroleum and petrochemical companies, today announced it has launched the development of new operational risk management software modules for petrochemical companies in China. LianDi plans to develop integrated resource management software based on its existing technologies.
"We are excited about getting a head start on our competitors in the $100 million resource management software market," stated Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of the Company. "With the experience we have developing integrated and scalable software modules for large petrochemical companies in China, we are confident we can become a market leader. We have already discussed our R&D roadmap with China National Petroleum (CNP). Leveraging the three software copyrights we recently received and assigning three senior research staff on this project.
With petrochemical production processes becoming more complex and safety requirements becoming more stringent, companies in China are looking for a reliable system that allows them to assess and monitor the most critical equipment within their production facilities. Very few products exist in China today because most large multinationals sell products that are only compatible with their own hardware while smaller, local competitors sell products that lack the reliability required by large petrochemical companies. LianDi will use its expertise, technology and relationships with companies like China Petrochemical to fill this gap.
LianDi's integrated resource management system has three primary services: 1) evaluates the risk of still equipment, 2) evaluates the risk of moving equipment, and 3) evaluates risks during installation of new equipment. The Chinese authorities will likely follow the EU and the U.S. in requiring all three risk analyses to be performed by all petrochemical companies operating in China. The price of the integrated resource management system is approximately $2 million.
About LianDi Clean Technology Inc.
LianDi was established in July 2004 to serve the largest Chinese petroleum and petrochemical companies. Through its four operating subsidiaries, Hua Shen Trading (International) Ltd., Petrochemical Engineering Ltd., Bright Flow Control Ltd. and Beijing JianXin Petrochemical Engineering Ltd., the Company distributes a wide range of customized valves and equipment and provides associated value-added technical and integration service. The Company also develops and markets proprietary optimization software for the polymerization process. In addition, LianDi is focused on the large, rapidly growing, clean technology market for oil refineries, projected to reach over $1 billion in the next 10 years. This market is expected to benefit from favorable Chinese government policies, including tax benefits and other incentives.
About PetroChina Company Limited
PetroChina Company Limited primarily engages in the exploration, production, and sale of crude oil and natural gas primarily in the People's Republic of China. The company operates in four segments: Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline. The Exploration and Production segment explores, develops, produces, and sells crude oil and natural gas. As of December 31, 2009, it had 11,263 million barrels of proved reserves of crude oil; and 63,244 billion cubic feet of proved reserves of natural gas. The Refining and Chemicals segment refines crude oil and petroleum products; and produces and markets petrochemical products, derivative petrochemical products, and other chemical products. This segment's product line comprises processed crude oil, gasoline, kerosene, diesel, ethylene, synthetic resins, synthetic fiber materials, polymers, synthetic rubber, and urea. The Marketing segment engages in the marketing of refined products and trading business. As of December 31, 2009, it operated 17,262 service stations. The Natural Gas and Pipeline segment involves in the transmission of natural gas, crude oil, and refined products, as well as in the sale of natural gas. As of December 31, 2009, its pipelines measured a total length of 50,627 kilometers, including 28,595 kilometers of natural gas, 13,164 kilometers of crude oil, and 8,868 kilometers of refined product pipelines. The company was founded in 1988 and is headquartered in Beijing, the People's Republic of China. PetroChina Company Limited is a subsidiary of China National Petroleum Corporation.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of LianDi and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the impact of the proceeds from the private placement on the Company's short term business and operations; the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov )
For more information, please contact:
Investor Relations:
HC International, Inc.
Ted Haberfield, Executive VP
Phone: +1-760-755-2716
Email: thaberfield@hcinternational.net
