Rotoblock aims to become one of the top commercial air-conditioner brands in China and by next year expects to begin export to many of the world's top markets, including The Middle East, North America and Europe.
According to a report by the Freedonia Group, 'World demand for HVAC equipment is projected to rise more than five percent per year through 2012, exceeding $70 billion. Demand in the Asia/Pacific region will outpace the global average, rising more than six percent annually through 2012.'
Last month Rotoblock agreed to purchase controlling interest of Nanjing's Hikom Gottell for US$25 Million. The final sale is subject to independent review and final agreement of the term sheet.
Rotoblock's position in the air conditioning market is bolstered by its relationship with Hikom Gottell, which has developed a reputation as a leading brand in China.
Hikom Gottell recently completed the construction of a modern manufacturing facility in Nanjing. Rotoblock's acquisition includes all hard assets of Hikom Gottell's manufacturing facilities in Nanjing as well as the name Hikom Gottell and its distribution network. Also included is Hikom Gottell's 10-acre manufacturing complex, land, factories, manufacturing equipment, testing facilities, and delivery trucks.
Rotoblock serves primarily industrial and commercial air conditioning markets, but is introducing a new, state-of-the-art, energy-efficient system this year for home use. Rotoblock is now working with Hikom Gottell to reorganize the corporate structure, recruit R&D talent, optimize its marketing strategy, and refocus its sales efforts.
About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of small engines and other energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Rotoblock has full rights to the patents of the Oscillating Piston Engine and believes the OPE technology has useful applications in an endless number of areas where its powerful, lightweight, efficient design are in ever-increasing demand. Visit Rotoblock's corporate website for details about the company, technology, and regulatory filings.
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Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rotoblock Corporation has little or no control.