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BEIJING, August 6, 2013 /PRNewswire/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that it has secured multiple contracts during the second quarter of 2013 in all three reported business segments. The total value for the awarded contracts was approximately $6.48 million (RMB 40.1 million).
Reported Business Segment | Services & Delivery | Aggregate Value of Contracts | ||
Water Resource Management System & Engineering | Design, System Integration, Equipment Sales. Delivery expected in Q3, 2013 | $1.16 million | ||
Water, Wastewater Treatment & Municipal Infrastructure | Design, System Integration, Installation & Troubleshooting. Delivery expected in Q3, 2013 | $1.19 million | ||
Industrial Pollution Control and Safety | Design, System Integration, Installation & Troubleshooting. Delivery expected in Q3 and Q4, 2013 | $4.13 million | ||
Total | $6.48 million |
CFO Phil Fan commented, "The numbers reflect our cautious project selection: we avoided slow-paying, capital-intensive Municipal Water and Wastewater sector projects and potentially lucrative speculative agreements with unfavorable payment terms. We believe that the agreements we did sign, while not without risk, will build a foundation for steady performance. Being rigorous in project selection is our best defense against our cash flow pressures and China's mounting municipality debt issues. Moving forward, we will continue to seek projects that provide benefits for our company and shareholders without jeopardizing our business."
About Tri-Tech Holding Inc.
Tri-Tech is an innovative provider of consulting, engineering, procurement, construction and technical services. The Company supports government, state owned entities and commercial clients by providing efficiency oriented solutions focused on treatment of water and waste water, management of water resources and water-efficient irrigation, as well as industrial emission and safety controls. With software copyrights, product patents, and capable employees in China, the U.S. and India, Tri-Tech's capabilities span the cycle of innovation. Please visit 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 projects referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts 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.
Tri-Tech Holding Inc.
www.tri-tech.cn
IR Department
+86 10 57323666
ir@tri-tech.cn