SIPING, China, July 3, 2013 /PRNewswire/ -- THT Heat Transfer Technology, Inc. (Nasdaq: THTI) ("THT" or the "Company"), a leading provider of heat exchangers and heat exchange solutions in China's clean technology industry, today announced that its operating subsidiary Siping Juyuan Hanyang Plate Heat Exchanger Co., Ltd. ("Siping Juyuan") has completed the acquisition of the remaining 25% ownership stake in Beijing Juyuan Hanyang Heat Exchange Equipment Co., Ltd. ("Beijing Juyuan") from Hanyang International GmbH, for a total consideration of RMB2.5 million (approximately US$0.4 million). Upon the completion of the acquisition, THT owns 100% of Beijing Juyuan.
Chairman and Chief Executive Officer Guohong Zhao commented, "We are pleased to announce the completion of our acquisition of the remaining 25% of Beijing Juyuan, providing us with full ownership of our product sales operating subsidiary. Despite the challenges we face in light of current market conditions, we remain committed to strengthening our sales activities to further diversify our revenue base and gain additional share in the domestic heat exchanger market."
About THT Heat Transfer Technology, Inc.
Through its Chinese operating subsidiaries, THT Heat Transfer Technology, Inc. designs, manufactures and sells plate heat exchangers, shell-and-tube heat exchangers, heat exchanger units and other heat exchanger products with total heat exchange solutions. Heat exchangers play an integral part in helping customers improve energy efficiency. Used in a number of industries, THT's products focus on energy conservation, emission reduction and other environmentally friendly applications. Its six major product categories are plate heat exchangers, shell-and-tube heat exchangers, air-cooled heat exchangers, weld plate heat exchangers, heat exchanger units and plate-and-shell heat exchangers. The Company also offers comprehensive heat exchange solutions.
THT's in-house R&D capabilities enable it to deliver tailored products that better meet the changing demands of its customers. The Company has a strong record of delivering high-quality products and services to leading domestic and international customers. THT has completed over 3,000 projects and has provided heat exchange solutions to several Fortune 500 companies. The Company is headquartered in Siping City, Jilin Province, China. For more information, please visit the Company's website at www.tht.cn.
Contacts:
The Company: Mr. Jack Xiao Investor Relations Manager THT Heat Transfer Technology, Inc. Tel:+86 (434) 326 6779 Email: IR@tht.cn
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Investor Relations (Beijing): Xiaoyan Su Taylor Rafferty Tel: +852 3196 3712 Email: tht@taylor-rafferty.com
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Investor Relations (US): Mahmoud Siddig Taylor Rafferty Tel: +1 (212) 889 4350 Email: tht@taylor-rafferty.com |
