Tri-Tech Holding Wins $3.2 Million Contract for Flash Flood Monitoring and Forecasting Project
Beijing, China – May 25, 2011 – 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 the pollution control markets, today announced that its affiliate, Beijing Yanyu Water Tech Co., Ltd (“Yanyu”), has been awarded a contract for flash flood monitoring and forecasting projects valued at 20.87 million Yuan, or $3.2 million.
According to the contract, the company will establish flash flood monitoring and forecasting systems in six counties of Anhui, Shandong, and Gansu provinces. The systems include information collection sub-systems, early warning systems and early warning information dissemination platforms. The scope of work includes production, software development, equipment procurement, system integration, installation and commissioning and after-sale service. All projects are expected to be completed by the end of June 2011.
Tri-Tech Holding CEO Mr. Warren Zhao said, "With the further allocation of water conservation construction funds, flash flood prevention work in each province is in full swing. In the past few months, we actively explored the market and intensified our communications with target customers. After winning two flash flood monitoring and forecasting projects in Hunan Province and Inner Mongolia in March 2011, we pursued these projects in Anhui, Gansu, and Shandong provinces. We are now tracking potential projects in other regions to expand our market share."
About Tri-Tech Holding Inc.
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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 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.