TAIYUAN CITY, China, April 5, 2011 /PRNewswire-Asia-FirstCall/ -- Longwei Petroleum Investment Holding Ltd. (NYSE Amex: LPH) ("Longwei" or the "Company"), an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China ("PRC"), announced today that it has engaged Equisolve LLC ("Equisolve") to manage its website development and online content (http://www.equisolve.com).
The Company signed an agreement with Equisolve to enhance the design and development of its corporate website. Equisolve has been engaged to develop a site to highlight the Company's operations and improve shareholder communications. "We are proud to add Longwei to our client roster and highlight their operations while providing an interactive and transparent experience for their investors," said Al Aneja, Vice President of Equisolve. "Equisolve provides its clients with advanced technology, including a global server network, in 18 locations across 9 countries to provide unmatched levels of speed, security, redundancy and scalability," added Mr. Aneja.
"In our ongoing effort to increase shareholder value and transparency, we are pleased to announce our new partnership with Equisolve to enhance our corporate website," said Cai Yongjun, Chairman and Chief Executive Officer of Longwei. "Our new website design will provide investors with easy access to key information including current news and events, corporate governance and regulatory documents, stock and financial data, and other shareholder resources. In addition to these and other financially related items, we will also provide investors with a view into our daily operations through webcams at our facilities."
Longwei's corporate website is currently under development and will be available in its new form in approximately 30 days. The website can be viewed at http://www.longweipetroleum.com.
About Longwei Petroleum Investment Holding Limited
Longwei Petroleum Investment Holding Limited is an energy company engaged in the storage and distribution of finished petroleum products in the People's Republic of China. The Company's oil and gas operations consist of transporting, storage and selling finished petroleum products, entirely in the PRC. The Company's headquarters are located in Taiyuan City, Shanxi Province. The Company has a storage capacity for its products of 120,000 metric tons located at storage facilities in Taiyuan and Gujiao, Shanxi. The Company's Taiyuan and Gujiao facilities can store 50,000 metric tons and 70,000 metric tons, respectively. The Company has the necessary licenses to operate and sell petroleum products not only in Shanxi but throughout the entire PRC. The Company's storage tanks have the largest storage capacity of any non-government operated entity in Shanxi.
The Company seeks to earn profits by selling its products at competitive prices with timely delivery to coal mining operations, power supply customers, large-scale gas stations and small, independent gas stations. The Company also earns revenue under an agency fee by acting as a purchasing agent for other intermediaries in Shanxi, and through limited sales of diesel and gasoline at two retail gas stations, each located at the Company's facilities. The Company seeks to continue to expand its customer base and distribution platform through the utilization of its large storage capacity, which allows the Company the flexibility to take advantage of pricing, supply and demand fluctuations in the marketplace.
For further information on Longwei Petroleum Investment Holding Limited, please visit http://www.longweipetroleum.com. You may register to receive Longwei Petroleum Investment Holding Limited's future press releases or request to be added to the Company's distribution list by contacting Dave Gentry at info@redchip.com.
About Equisolve LLC
Equisolve uses its proven investor relations expertise to create corporate and investor relations websites, manage online content, and facilitate shareholder communication, eliminating the delays and expense normally associated with keeping a public company's website up to date. The Equisolve Solution is a highly reliable, cost-effective way for a public company to keep its website up to date, materially accurate, and compliant, while engaging both retail and institutional investors.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about Longwei's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Longwei's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. Other potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the Securities and Exchange Commission.
Contact:
At the Company:
Michael Toups, Chief Financial Officer
U.S. Office +1 727-641-1357
mtoups@longweipetroleum.com
http://www.longweipetroleum.com
Investor Relations:
Mike Bowdoin
RedChip Companies, Inc.
Tel: +1-800-733-2447, Ext. 110
Email: info@redchip.com
