ZHENGZHOU, China, May 9, 2012 /PRNewswire-Asia-FirstCall/ -- China
Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the
"Company"), a leading Chinese metal valve manufacturer, today
announced that the RVIII-1300mm 12-way rotary valve manufactured by
one of its subsidiaries, Hanwei Valve, has passed the acceptance
test successfully.
As a result of collaboration with
Honeywell-UOP, a leading international supplier and licensor for
petroleum refining, gas processing, petrochemical production and
major manufacturing industries, the RVIII-1300mm 12-way rotary
valve is a new kind of rotary valve tailored to the needs of Yangzi
Petrochemical for its ethylene production expansion project. The
diameter of 1300mm is the biggest one in China market. The 12-way design is derived
from the initial 24-way rotary valve but employs a new concept and
manufacturing process. This project is the Company's first
cooperation with Honeywell-UOP and its management has spoken highly
of Hanwei Valve's expertise in designing and manufacturing
complicated rotary valves during the testing process.
"The development and certification
of this innovative and high performance valve is a great example of
our customer-centric development model," said Mr. Jianbao Wang,
Chief Executive Officer of China Valves. "This successful
cooperation with UOP provides us a great opportunity to enhance our
reputation for being an innovative leader and help us establish our
presence in the international market in the future."
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, manufacturing 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 a number of patents. It
enjoys significant domestic market share and exports to
Asia and Europe. For more information, visit
http://www.cvalve.com
About
Honeywell-UOP
UOP is a Honeywell company, and
Honeywell's UOP has been the leading international supplier and
licensor for the petroleum refining, gas processing, petrochemical
production and major manufacturing industries. As a respected
pioneer, it is responsible for developing and implementing some of
the most useful, original technologies in the world.
Safe Harbor
Statements
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 and other regulatory
authorities. 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. This press
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
press release is based upon information available to the public, as
well as other information from sources which 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.