Tri-Tech Holding Wins $1.15M Bid for SINOPEC Natural Gas Filed Project
BEIJING, Sept. 27 /PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), a premier Chinese company that provides leading turn-key solutions in China for water resources, water and wastewater treatment, industrial safety and pollution control markets, announced today that its affiliate, Beijing Satellite Science & Technology Co. (BSST), has won a RMB 7.8 million (approximately $1.15 million) Phase II bid from the China Petroleum & Chemical Corporation (Sinopec) for an automated monitoring and communication system in the Puguang gas field in Sichuan Province.
Phase II represents an expansion of the information gathering and monitoring Phase I project, which includes the 48-station system implemented by BSST in September 2010 at the Puguang field.
BSST is applying the Siemens SCALANCE Industrial Ethernet switch and router used in Phase I. BSST expects to complete the project by December 2011.
Tri-Tech President Gavin Cheng said, "Following our successful completion of Phase I in 2008, we were pleased to be awarded this Phase II expansion project. This will be the first time we have used a redundant fiber optic ring and a wimax wireless link as a backbone and backup communication channel in a gas or oil field."
About Tri-Tech Holding Inc.
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.