Tri-Tech Holding Wins $2.66 Million Flash Flood Early Warning System Contracts in Three Chinese Provinces
BEIJING, Feb. 15, 2012 /PRNewswire-Asia-FirstCall/ -- 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 contracts for flash flood early warning projects in three provinces in China. The projects totaled approximately $2.66 million (approximately RMB 16.74 million).
According to the contracts signed with Tri-Tech’s affiliate, Beijing Yanyu Water Tech Co. Ltd., the company will provide flash flood monitoring and forecasting systems for eleven districts, counties and cities in Hubei, Liaoning and Fujian provinces. Each system includes an information collection module, an early warning module and an information dissemination platform. The company anticipates that it will be involved in the production or procurement of equipment, software development, integration and installation, debugging of the systems and technical training to customers. These projects are scheduled for completion by the end of June 2012.
Mr. Warren Zhao, CEO of Tri-Tech Holding commented, “Following our successful bids in Hunan, Henan and Hebei provinces in January, we secured additional projects in three other provinces. Our services and products of water resources management have penetrated markets in 28 Chinese provinces and municipalities, improving safety for over 100 million people and their properties. In light of our dramatic growth rate, we expect to bid on even more water resources management projects in the first quarter of 2012. In addition, we are actively implementing a market survey and valuation as several national programs including National Drought and Flood Control Command System Phase II, National Small River Hydrologic Monitoring and Forecasting Project and National Water Resources Monitoring Capability Project are about to be launched, and we intend to become a participant in these projects. At the same time, we continue to devote resources to research and develop software for water resources management and ground water monitoring.”
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and international markets. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 27 software copyrights and six technological patents, and employs 300 people. Please visit http://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 project referenced herein (including any potential future projects related thereto) 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.
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Tri-Tech Holding Inc.
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