Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that its subsidiary, Tri-Tech Infrastructure LLC (Tri-Tech U.S.), won a $690,000 contract to provide a water treatment system to Fairmont Jasper Park Lodge at Jasper Town, Alberta, Canada.
The Company disclosed that under the terms of the contract with a regional office of Oxford Properties Inc., an international property development and management company, Tri-Tech U.S. will provide a water treatment system consisting of two trains of ultrafiltration (UF) modules, each of which is capable of producing 2,160 cubic meters of treated water per day. Tri-Tech will procure equipment, startup and commission the project and will provide training and technical support to the personnel of the owner's choice. The project will be implemented by J&Y Water Division of Tri-Tech U.S. and is scheduled for completion in mid-May, 2012.
Mr. Jim Schwartz, General Manager of Tri-Tech U.S. said: 'Advanced UF technology will be applied in the water treatment system supplied for the Jasper Park Lodge. With multiple specialties of pollution and oxidation resistances, easy cleaning, cost efficiency and low energy consumption, the efficient system will reduce the operating costs of the water treatment unit.'
Mr. Phil Fan, President of Tri-Tech Holding, Inc. commented: 'The Canadian Government has raised drinking water treatment standards over the years. The standard inspection on quality of drinking water in hotels and lodges is administered by Health Authorities in different provinces because many hotels and lodges located in remote areas get their water supplies from lakes and streams. In this particular case, the water supply for Jasper Park Lodge comes from Lac Beauvert. Jasper Park Lodge currently has an ultra-violet (UV), reactor installed along with chlorination. The application of the traditional energy-consuming UV disinfection process will be replaced with Tri-Tech's more energy efficient UF solution to meet the higher water quality standards.
'As more efficient UF water treatment systems appear in small-and-medium-sized public places such as hotels and lodges in Canada, the advantages of such systems are becoming more widely known, leading to increased business opportunities for water treatment solution providers. Our strategic marketing plan includes market investigation to identify target customers. We will start to implement our plans and expect Canada will be a significant target market for Tri-Tech.'
Mr. Warren Zhao, CEO of Tri-Tech Holding, commented: 'We are delighted to win what is both our first contract under our J&Y Water Division and also our first contract in North America. This project signifies the success of Tri-Tech's acquisition and integration of J&Y. Based on this success, we will continue our strategic expansion into North America with J&Y providing an edge, and we look forward to more productive results going forward.'
About Fairmont Jasper Park Lodge
Built in 1925, the Fairmont Jasper Park Lodge, located in Canada's Jasper National Park, Alberta, has 400 rooms with an area of 700 acres. Surrounded by beautiful natural landscape, the lodge is a favorite of guests on vacation and attracts a constant stream of visitors. The lodge is operated and managed by Oxford Properties Inc., an international commercial real estate development and management company in North America.
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. The company is also moving into the industrial pollution control market. Tri-Tech owns 27 software copyrights and two technological patents, and employs 300 people. Please visit http://www.tri-tech.cn for more information.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of the project referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts 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.
Investor Relations Contact:
Mr. Craig T. Stewart
North Coast Advisors Inc.
+1 (585) 388-3340
SOURCE Tri-Tech Holding Inc.