WUHAN, China, Oct. 8 /Xinhua-PRNewswire/ -- Wuhan General Group (China), Inc. ("Wuhan General" or the "Company") (Nasdaq: WUHN), a leading manufacturer of industrial blowers and turbines based in Wuhan, China, today announced that Mr. Xu Jie, Chief Executive Officer of the Company, will ring the opening bell at the NASDAQ Stock Market on October 9. Accompanying him will be other members of management, shareholders, advisors, and guests from China.
"It is an honor for us to ring the opening bell at Nasdaq celebrating our listing on the Nasdaq exchange," commented Mr. Xu. "This year marks the 50th anniversary of the founding of our company. Roughly five years ago, after many decades as a leading company in China, we made the transition to a private enterprise and have since raised capital in the United States, grown significantly, and listed our shares on the Nasdaq exchange. We are very proud of our long history as well as the great progress we have made recently. We are on track to make 2008 another successful year for our company, including significant growth for both our blower and turbine businesses. Joining Nasdaq is an important milestone for Wuhan General as we work to improve and to be a great company. I would like to thank those who have made contributions to our success, including our employees, shareholders, customers, and advisors."
About Wuhan General
Wuhan General (Nasdaq: WUHN) designs, manufactures, and distributes industrial blowers and turbines. Blowers are used in a variety of applications where large amounts of air have to be moved. Examples include electricity generation, air pollution control, and ventilation and aeration in subways and vehicular tunnels, mines, and sewage treatment facilities. The Company's steam and water turbines are used for electricity generation in coal, oil, nuclear, and hydroelectric power plants. The Company is located in Wuhan, China, a major industrial city of 8 million people strategically located in the south-central part of China.
Certain statements in this press release may be forward-looking in nature or "forward-looking statements," as defined by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to vulnerability of our business to general economic downturn, operating in the People's Republic of China (PRC) generally and the potential for changes in the laws of the PRC that affect our operations, our failure to meet or timely meet contractual performance standards and schedules and other factors that may cause actual results to be materially different from those described in such forward-looking statements. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on Wuhan General's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting Wuhan General will be those anticipated by the Company. Wuhan General undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
For more information, please contact:
Mr. Haiming Liu, Chief Financial Officer
Wuhan General Group
Tel: +86-27-5970-0067
Dan Joseph
ICR, Inc.
Tel: +86-21-6122-1077
Bill Zima
ICR, Inc.
Tel: +1-203-682-8200
