ZHENGZHOU, China, Jan. 4, 2012 /PRNewswire-Asia-FirstCall/ -- China
Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the
"Company"), a leading Chinese metal valve manufacturer, today
announced that its prototype valves for the localization of valves
used in ultra-supercritical thermal power plants passed the
acceptance inspection conducted by experts from the Bureau of
National Energy of China, China
General Machinery Association, the Shanghai Electric Group,
Dongfang Electric Group and relevant power plants. The valves were
manufactured by the Company's subsidiary Henan Kaifeng High
Pressure Valve Co., Ltd. ("Kaifeng Valve").
As disclosed previously, Kaifeng Valve had been approved by the
State Council as one of key providers for the localization of
high-performance valves for thermal power plants. Currently, there
are 11 research projects for valves to be manufactured by local
companies for ultra-supercritical thermal power plants, out of
which Kaifeng Valve has undertaken seven.
After the inspection and test, the experts concluded that the
main steam gate valve filled the domestic industry gaps and led the
international industry, the turbine vacuum butterfly valve led the
domestic industry and reached the advanced level globally, and the
electric three-way valve for high pressure heater, hydraulic inlet
three-way valve, hydraulic outlet three-way valve, high pressure
discharge check valve, and one-piece extraction check valve led the
domestic industry and also were very competitive globally.
"We are pleased by this national-level validation of our efforts
to introduce localized high-end valves that measure up to the
highest international standards," said Jianbao Wang, Chief
Executive Officer of China Valves. "According to the China
Electricity Council, China's
installed power generation base will rise from 966 Gigawatts in
2010, to 1,437 GW in 2015. Given our leadership position in the
industry, China Valves hopes to play a growing role in supplying
mission-critical equipment to support this expansion."
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries,
Zhengzhou City ZD Valve Co, Ltd., Henan Kaifeng High Pressure Valve
Co., Ltd., Taizhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock
Technology Co., Ltd., China Valve Technology (Changsha) Valve Co., Ltd. and Shanghai Pudong
Hanwei Valve Co., Ltd., is engaged in the development, manufacture
and sale of high-quality metal valves for the electricity,
petroleum, chemical, water, gas and metallurgy industries. The
Company has one of the best known brand names in China's valve industry, and its history can be
traced back to 1959 when it was formed as a state-owned enterprise.
The Company develops valve products through extensive research and
development and owns numerous patents. It enjoys a large domestic
market share and also exports to Asia and Europe. For more information, visit
http://www.cvalve.com.
Safe Harbor Statement
Any statements set forth above that are not historical facts
are forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements. Such factors include, but are not
limited to, the Company's ability to develop and
market new products, the ability to access capital for expansion,
the ability to acquire other companies, changes from anticipated
levels of sales, changes in national or regional economic and
competitive conditions, changes in relationships with customers,
changes in principal product profits and other factors detailed
from time to time in the Company's filings with the
United States Securities and Exchange Commission. The Company
undertakes no obligation to update or revise to the public any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by
law. This news release was developed by China
Valves, and is intended solely for informational purposes and is
not to be construed as an offer or solicitation of an offer to buy
or sell the Company's stock. This news
release is based upon information available to the public, as
well as other information from sources that
management believes to be reliable, but it is not guaranteed by
China Valves to be accurate, nor does China Valves purport it to be
complete. Opinions expressed herein are those of management as of
the date of publication and are subject to change without
notice.
China Valves Technology, Inc.
Gang Wei, CFO
Tel: +86-371-8601-8777
E-mail: ir@cvalve.com
http://www.cvalve.com
CCG Investor Relations
Crocker Coulson, President
Tel: +1 646-213-1915
E-mail: crocker.coulson@ccgir.com
http://www.ccgirasia.com
SOURCE China Valves Technology, Inc.