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Wuhan General Receives Technology Award and Major International Order

2008-12-16 20:43 1136


WUHAN, China, Dec. 16 /PRNewswire-Asia-FirstCall/ -- Wuhan General Group, Inc. (Nasdaq: WUHN) ("Wuhan General" or the "Company"), a leading manufacturer of industrial blowers and turbines, today announced that several of its products have received awards for superior technology from a leading industrial association in China, and that in the fourth quarter, the Company received a major order from Mitsubishi Heavy Industries Co., Ltd. of Japan ("MHI").

At the Fourth China International Fluid Exhibition held in October 2008, the Static Blade Adjustable Axial Desulphurization BUF MD-H1-R252/360 blower and Single Stage High Speed Blower SSH200-1.7 blower produced by Wuhan Blower Co., Ltd. ("WBC"), a subsidiary of the Company, were given the Golden Award by the exhibition organizer, China General Machinery Industry Association Fan Branch ("the Fan Association"), for its technological sophistication and excellent performance.

The Fan Association considers products from all the major blower manufacturers in China and bases its decision on quality and performance. Wuhan General has won six Golden Awards from the Fan Association since 2004.

In addition to this honor, WBC received from MHI a purchasing order worth over $1.3 million USD in the fourth quarter of 2008. The products, which are intended for distribution in Indonesia, will be delivered to MHI in the next year. WBC is the largest manufacturing base of industrial blowers in China for MHI.

"This is an exciting time for Wuhan General," said Mr. Jie Xu, Chief Executive Officer of Wuhan General. "Our products have begun to be recognized for their advanced technology and superior performance. We are very pleased that Mitsubishi Heavy Industries has put its faith in our company and made us their largest manufacturing base of industrial blowers in China, and believe that this partnership will be mutually beneficial for both of our companies' growth. With the further honor of the Golden Award, we expect even more additional orders from other companies as our brand recognition continues to expand."

About Wuhan General

Wuhan General 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.

Safe Harbor Statement

Certain statements in this press release, including statements regarding future demand for our products, future raw material costs and our future financial performance 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:

Haiming Liu

CFO

Wuhan General Group

Tel: +86-27-5970-0067

Bill Zima

ICR, Inc.

Tel: +86-10-8523-3089

Email: wzima@icrinc.com

Source: Wuhan General Group, Inc.
Keywords: Oil/Energy
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