SHENZHEN, China, June 15 /PRNewswire-Asia/ -- China Ritar Power Corp. (OTC Bulletin Board: CRTP) (the "Company" or "China Ritar"), a leading Chinese manufacturer of lead acid batteries, today announced that the Company has received an increase in orders from one of its top customers, Emerson Electric Co. (NYSE: EMR, "Emerson"). Emerson is in the process of expanding its service areas throughout the Southeast Asia region resulting in an increase in demand of telecommunications batteries. The company ordered RMB 4 million, or approximately US$585,000, of batteries in June and is expected to order at least another US$10 million worth of batteries during the second half of the year.
"We continue to experience a healthy increase in demand for our batteries used in telecommunications and alternative energy," commented Mr. Jiada Hu, China Ritar's Chairman and CEO. "Moreover, the Chinese government is committed to funding an increasing number of renewable energy projects in an effort to spur economic development and advance its goal of supporting a cleaner environment. As a result, China has increased its target to have its energy needs supplied by renewable sources from 15% to 20% by 2020."
About China Ritar
China Ritar designs, develops, manufactures and markets environmentally friendly lead acid batteries with a wide range of capacities and applications, including telecommunications, Uninterrupted Power Source (UPS) devices, Light Electrical Vehicles (LEV), and alternative energy production (solar and wind power). China Ritar sells, markets and services six series and 197 models of Ritar-branded, cadmium-free valve-regulated lead-acid (VRLA) batteries. Products are sold worldwide with sales in 81 countries including China, India, and numerous markets in Europe and the Americas. Additional information can be found at the Company's website http://www.ritarpower.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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