DALIAN, China, July 30 /Xinhua-PRNewswire-FirstCall/ -- Dalian Dongtai Industrial Waste Treatment Company, a subsidiary of China Industrial Waste Management Inc. (OTC Bulletin Board: CIWT), began the construction of a newly designed “Centralized Hazardous Waste Treatment Facility” on July 28, 2008.
The $16 million USD, 633,956 square foot facility is expected to be in full operation by the second half of 2009.
The project is sponsored by the State Environmental Protection Agency (SEPA) as part of a national plan to construct 55 hazardous waste treatment centers in key locations throughout China.
Upon completion the facility will include a new hazardous waste incinerator, which will have an annual capacity of 9,000 tons. The new incinerator is designed by the Japanese company Takuma Co., Ltd. and will replace Dongtai’s current incinerator which has a capacity of 3,300 tons per year.
The new incinerator is specially equipped with a tail gas cleansing system and an online monitoring system in order to ensure all emissions are in compliance with environmental standards.
In addition the project will include capacity expansion of a hazardous waste landfill, an industrial effluent treatment system and an organic solvent recycling system. The facility will also be equipped with a new research & development center.
According to the company, the site will create a “one-stop” shop for Dongtai’s services. Speaking of the project, CIWT CEO Mr. Dong noted, “We are killing two birds with one stone - centralizing operations and increasing capacity at the same time.”
Continuing to comment, Mr. Dong added, “I feel quite confident about the expansion because we are maintaining a focus on our strengths and core capabilities. We have been in this business for quite some time now, this is what we know, what we understand.”
Visit http://www.chinaciwt.com/facilities.asp for more information about the company’s facilities and expansion project, including a layout approved by the Chinese government.
About China Industrial Waste Management, Inc.:
China Industrial Waste Management, Inc., through its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd., is engaged in the collection, treatment, disposal and recycling of industrial wastes principally in Dalian, China and surrounding areas in Liaoning Province. The Company provides waste disposal solutions to its more than 400 customers from facilities located in the Economic and Technology Development Zone, Dalian, PRC. Dalian Dongtai treats, disposes of and/or recycles a variety of industrial wastes through incineration, burial and/or water treatment, and recycles, processes and/or resells waste products for use as raw materials in the production of chemical and metallurgy products. In addition, Dalian Dongtai provides environmental protection services, technology consultation, pollution treatment services, and waste management design processing services.
Forward-looking Statements:
This release includes "forward-looking statements." You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain such words as "may," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or the negative or other variations thereof or comparable terminology. These forward-looking statements are based on current expectations and projections about future events. Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, our actual performance may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors, as well as other factors described from time to time in our reports filed with the Securities and Exchange Commission: the timing and magnitude of technological advances; the prospects for future acquisitions; the effects of political, economic and social uncertainties regarding the governmental, economic and political circumstances in the People’s Republic of China, the possibility that a current customer could be acquired or otherwise be affected by a future event that would diminish their waste management requirements; the competition in the waste management industry and the impact of such competition on pricing, revenues and margins; uncertainties surrounding budget reductions or changes in funding priorities of existing government programs and the cost of attracting and retaining highly skilled personnel; our projected sales, profitability, and cash flows; our growth strategies; anticipated trends in our industries; our future financing plans; and our anticipated needs for working capital.
Forward-looking statements speak only as of the date on which they are made, and, except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
For further information, contact:
Ms. Guo Xin, CFO
Tel: +86-411-8581-1229
Email: hellenguo@chinaciwt.com
Mr. Zhang Dazhi, Company Secretary
Tel: +86-411-8259-5339
Email: darcy.zhang@chinaciwt.com
Web: http://www.chinaciwt.com
