Tri-Tech Holding Awarded $960,000 in Mountain Torrent Forecast Contracts
27 October 2009 - 12:00AM
PR Newswire (US)
Contracts Cover Eight Projects in Four Provinces BEIJING, Oct. 26
/PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc. (NASDAQ:TRIT),
a premier Chinese company that engineers, manages and monitors
municipal sewer systems, natural waterways and other Chinese water
resources, announced today that it has received contracts valued at
approximately $960,000 for eight mountain torrent forecast pilot
projects from the Flood Control and Drought Relief Bureaus of
Hebei, Anhui, Qinghai and Guizhou provinces. In October 2006, the
Chinese government approved the Mountain Torrent Forecast Plan
proposed by the Ministry of Water Resources and the Ministry for
Environmental Protection. Accordingly, in 2009, the Chinese
government allocated RMB200 million (approximately US$29 million)
to fund projects in 103 pilot counties, which are frequently
devastated by mountain torrents. In June 2009, the China State
Flood Control and Drought Relief Headquarters initiated pilot
projects for the 103 counties. Tri-Tech won the bids in seven
counties and one municipality in Hebei, Anhui, Qinghai and Guizhou
provinces. In Qianxi County in Hebei Province and in Tongren County
and the municipality of Xining in Qinghai Province, Tri-Tech will
provide integrated engineering services and non-structural
measures, including establishment of monitoring and early warning
systems, mountain torrent forecast systems, flood control preplans
and education for local residents on mountain torrent prevention.
In Yuexi County in Anhui Province and Kaiyang, Puding, Wangmo and
Jinsha counties in Guizhou Province, Tri-Tech will provide a
mountain torrent information collection system and early warning
systems as well as hydrological monitoring equipment, installation,
debugging and after-sale services. The data terminal for the
hydrological monitoring station system in all eight projects will
use Tri-Tech's patented YY-RTU-2000 Telemetry Unit. Tri-Tech
expects to complete the projects before the end of 2010. Mr. Warren
Zhao, CEO of Tri-Tech Holding, said, "With an area of 23,411 square
kilometers benefiting a population of 4.34 million, these eight
projects are among the initial pilot contracts awarded for mountain
torrent forecast. We are excited that we successfully secured these
eight contracts, which represent a 16% market share, as only half
of the 103 counties have invited public bids so far. With increased
investment and support from the Chinese government for mountain
torrent forecast, we expect to continue building our business in
support of this important sector." About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control
systems for China's municipalities and its larger cities. 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 government in
managing its water resources. Tri-tech owns seven software
copyrights and two technological patents and employs 108 people.
Please visit http://www.tri-tech.cn/ for more information. An
online investor kit including a company profile, press releases,
current price quotes, stock charts and other valuable information
for investors is available at
http://www.hawkassociates.com/profile/trit.cfm . To subscribe to
future releases via e-mail alert, visit
http://www.hawkassociates.com/about/alert/ . Tri-Tech Holding Inc.
has based these 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. For more information, please
contact: Investors Contact: Hawk Associates Susan Zhou Tel:
+1-305-451-1888 Email: DATASOURCE: Tri-Tech Holding Inc. CONTACT:
Investors, Susan Zhou of Hawk Associates, +1-305-451-1888, Web
site: http://www.tri-tech.cn/
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