Further expands NF Energy's distribution network overseas
SHENYANG, China, Aug. 23 /PRNewswire-Asia/ -- NF Energy Saving Corp. (OTC Bulletin Board: NFEC) ("NF Energy" or the "Company"), a leading energy saving services provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, announced today that it has signed a contract with PT. Multinas Indonesia for technical consultancy services and energy saving drying and cooling equipment.
NF Energy expects to generate U.S. GAAP revenue of $290,000 from the contract. Pursuant to the contract, NF Energy will provide technical consultancy services which will compromise approximately 50% of the total revenue, as well as energy saving drying and cooling equipment which will account for the remaining 50% of the total revenue.
NF Energy will help PT. Multinas Indonesia analyze energy audits, diagnostics, and applications of vibration technology in its sugar processing, renovating and reconstructing the firm's production line. The project's primary objective is to reduce the facility's energy consumption by up to 20%, while significantly lowering environmental pollution.
Headquartered in Surabaya, Indonesia, PT. Multinas Indonesia is both a trading company and a provider of engineering services for the sugar, petrochemical and fertilizer industries throughout Indonesia through its branch offices in Jakarta and Palembang.
"Because sugar manufacturing is energy-intensive as it requires furnaces to generate electricity and provide steam for the drying process, refiners are continuously looking for ways to improve efficiency in order to enhance their profitability," noted NF Energy's CEO Mr. Gang Li. "We are extremely excited about this opportunity with PT. Multinas as we believe our expertise in providing energy efficient products and solutions will result in significant operational cost savings for PT. Multinas, improving their competitive position in the sugar processing market. Moreover, the agreement represents another milestone for NF Energy as we continue to expand our geographic footprint and diversify our sources of revenue."
About NF Energy Saving Corporation
NF Energy Saving Corporation (OTCBB:NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com
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For more information, please contact:
Company Contact:
Ms. Lihua Wang, Director & CFO
Tel: +86-24-8563-1159
Email: wlh@nfenergy.com
NF Energy Saving Corp.
Web: http://www.nfenergy.com
Investor Relations Contact:
Mr. Mark Collinson, Partner
Email: mark.collinson@ccgir.com
Tel: +1-310-954-1343
CCG Investor Relations
Web: http://www.ccgirasia.com
Source: NF Energy Saving Corp.
