BEIJING, Jan. 5, 2011 /PRNewswire-Asia/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), a premier Chinese company that provides turn-key solutions in China for water resources, water and wastewater treatment, industrial safety and the pollution control markets, announced today the completion and recent handover of multiple projects for municipal wastewater, solid waste treatment, tail gas control, flood monitoring and control.
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Tri-Tech CEO Mr. Warren Zhao said, "The completion of these projects on time and within budget underscores our ability to execute complex contracts simultaneously across China, especially the successful completion of the water recycling plant in Dongli Economic Development Zone, the sewage treatment plant in Xinle City, Hebei province, and the sanitary waste landfill in Xinle City. These three Build and Transfer model municipal infrastructure projects demonstrate Tri-Tech's ability to develop a sustainable growth business model. The transfer of these projects will generate substantial payback and cash flow for Tri-Tech.
"In the next three to five years, the Ministry of Water Resources and its subordinate units are scheduled to implement mountain flood prevention projects for the remaining 1,700 counties as part of the program initiated in year 2006. This creates significant market opportunities. By completing these mountain flood prevention and early warning systems, our company has increased its experience in project implementation and has sought to improve our reputation and relationships with our customer base. I believe this lays a solid market foundation for pursuing future projects," Mr. Zhao said.
Mr. Zhao added, "We are grateful to our engineering and project management team for the completion of these projects. Since our IPO on Nasdaq in September 2009, our company has continued to pursue and implement new projects and strives to provide high-quality and efficient services within the project deadlines.
"We remain committed to growing our business on the basis of quality first. We will constantly improve the capacity of project implementation teams and, as always, provide our customers with the highest quality services," Mr. Zhao said.
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for China's municipalities and its larger cities. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 15 software copyrights and two technological patents and employs 220 people. Please visit http://www.Tri-Tech.cn for more information.
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This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of the project referenced herein and other statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.