ZHENGZHOU, China, May 10, 2012 /PRNewswire-Asia-FirstCall/ -- China
Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the
"Company"), a leading Chinese metal valve manufacturer, today
announced that one of the Company's subsidiaries, Shanghai Pudong
Hanwei Valve Co., Ltd. ("Hanwei Valve"), has received a purchase
order worth about $4 million from
Beijing China-Petroleum Everbright Energy Technology Co., Ltd.
("CPEEC") for the Sino-Kazakhstan oil pipeline's Phase Two project.
The products ordered are mainly ball valve, axial-flow check valve
and sluice gate valve, which will be used in the No. 8 and No.
10 stations.
Sino-Kazakhstan oil pipeline project is the first oil pipeline
between China and Kazakhstan, which is expected to play an
essential role in supporting China's oil importation. In the year of 2010,
Hanwei Valve provided the valve products mix for the No. 11 station
of Sino-Kazakhstan oil pipeline's Phase Two project and received
positive feedbacks with all the payment from CPEEC.
"The order itself is the best reflection of Hanwei Valve's sound
products and services," said Mr. Jianbao Wang, Chief Executive
Officer of China Valves. "I am very glad that we maintain a good
long-term relationship with CPEEC based on the past trading record,
which will bring us more cooperation opportunities 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.
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.