Tri-Tech Holding Awarded $3.63 Million Water Processing Unit Contract for a Steel Plant in Mexico
BEIJING, Mar. 27, 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 its subsidiary, Tri-Tech Infrastructure LLC (“Tri-Tech U.S.”), was awarded a contract from Ambbio, a Mexican water company, to provide a pre-concentrator Mechanical Vapor Compression (MVC) evaporator system and final MVC concentrator for a Mexican steel plant located in Monterrey, Mexico is one of customers of Ambbio who is providing other water processing equipment like Reverse Osmosis (RO) and Ultra-Filtration (UF) systems to the plant. The contract is valued at $3.63 million.
The concentrator unit will concentrate all of the treated water from the RO units to produce pure distillate that can be reused as process water and concentrate the reject water from our unit to zero liquid discharge. The evaporator unit is used to eliminate the discharge of any liquid from the steel making plant. Under the terms of the contract, Tri-Tech U.S. will provide design, engineering, fabrication, supervision of installation, commissioning, performance testing and on-site training service. Tri-Tech U.S. expects to deliver the complete water processing unit by early April 2013.
Mr. Jim Schwartz, General Manager of J&Y Water Division of Tri-Tech U.S. said, "We were confident with our unique technologies while we competed with several global water players for the project. The water treatment unit we will provide to the steel works will use our customized, energy efficient MVC concentrator and evaporator system designs.”
Mr. Phil Fan, President of Tri-Tech Holding, Inc. commented, "We are pleased with our first zero liquid discharge unit contract for industrial water treatment in Mexico. Mexico is a brand new market for us. Our successful contract bid fits our strategy of business development in overseas markets perfectly as we emphasize marketing our technical specialties, such as zero liquid discharge for industrial wastewater treatment as well as seawater desalination. We will continue to improve our competitiveness in industrial sector technologies and products and plan to seek more such opportunities in North America and Asia.”
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 39 software copyrights and 11 patents, and employs 330 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 and payment for the projects referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts or performance, future government initiatives, expected actions by third parties 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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