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 it has secured contracts for flash flood early warning and small river hydrologic monitoring projects in three provinces in China. The projects totaled approximately $5.26 million (approximately RMB 33.25 million).
According to the contracts signed with Tri-Tech's affiliate, Beijing Yanyu Water Tech Co. Ltd., the company will provide flash flood monitoring and forecasting systems for nine counties and cities in Hunan and Henan provinces. Each system includes an information collection module, an early warning module and an information dissemination platform. In addition, the company will provide river hydrologic monitoring systems for four cities in Hebei Province. The scope of the contracts includes the implementation of communication modules and automated data collection modules for rainfall and water levels. The company anticipates that it will be involved in the production or procurement of equipment, software development, integration and installation of the systems and technical training to customers. These projects are scheduled for completion from late May 2012 to September 2012.
Mr. Warren Zhao, CEO of Tri-Tech Holding commented, 'While we achieved remarkable results in the flash flood monitoring and early warning sector in the past year, we also laid a strong foundation for expansion in the river hydrologic sector with our small river hydrologic monitoring systems in Sichuan and Yunnan provinces. To ensure a competitive edge in the industry, we boosted flood monitoring, early warning and river hydrologic product research and development and scaled up our teams to expand regional coverage of our services. In 2012, we will continue to focus on growing our business in the flash flood early warning and small river hydrologic monitoring sectors.'
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and international markets. 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 Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 27 software copyrights and six technological patents, and employs 300 people. Please visit http://www.tri-tech.cn for more information.
An online investor kit including a company profile, presentations, press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.tri-tech.cn/ir. To subscribe to future releases via e-mail alert, visit http://www.tri-tech.cn/ir/info/request .
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 (including any potential future projects related thereto) 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.