BEIJING, Feb. 6, 2017 /PRNewswire/ -- Recon
Technology, Ltd. (NASDAQ: RCON),
("Recon" or the "Company"), a leading independent oilfield services
provider operating primarily in China, today announced it has received an
Authorization Letter ("Letter") from ABB, a global leader in
power and automation technology, that provides Recon with the
ability to participate in bidding for various projects in the
future, including automation system products projects.
The Company anticipates cooperating with ABB in the future to
provide integrated automation solutions, products and product
quality assurance services for various projects beyond oil
industry. For any successful
project bids, Recon expects it would provide on-site project
commissioning and maintenance services.
Management Commentary
Mr. Shenping Yin, Chairman and
CEO of Recon stated, "We are pleased to receive authorization from
ABB, giving Recon recognition from the global pioneer of automation
technology. Over the years, we have been committed to the
exploration and development of new business opportunities outside
our traditional oilfield sector. We are confident that our
experience within the energy industry, as well as the team's
efforts and constant communication with ABB will be an advantage to
us in the bidding process in coming periods. We believe being approved as a qualified
provider of services in this field is an important step towards
participating in projects going forward. We remain committed to
continuously improving our breadth of automation technology
solutions and capabilities in order to broaden our customer
base."
About ABB
ABB (NYSE: ABB, ABBN: SIX Swiss Ex) is a pioneering technology
leader in electrification products, robotics and motion, industrial
automation and power grids, serving customers in utilities,
industry and transport & infrastructure globally.
About Recon Technology, Ltd. (NASDAQ: RCON)
Recon Technology, Ltd. is China's first listed non-state owned oil and
gas field service company on NASDAQ. Recon supplies China's largest oil exploration companies,
Sinopec (NYSE: SNP) and CNPC, with
advanced automated technologies, efficient gathering and
transportation equipment and reservoir stimulation measure for
increasing petroleum extraction levels, reducing impurities and
lowering production costs. Through the years, RCON has taken
leading positions on several segmented markets of the oil and gas
filed service industry. RCON also has developed stable long-term
cooperation relationship with its major clients, and its products
and service are also well accepted by clients. For additional
information please visit us at www.recon.cn.
Safe Harbor
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include 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.
Company Contact
Liu
Jia
Recon Technology, Ltd.
+86 (10) 84945799
info@recon.cn
Investor Relations
The Equity Group Inc.
In China
Katherine Yao, Senior Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice
President
+1 (212) 836-9606
aprior@equityny.com
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SOURCE Recon Technology, Ltd.