ZHENGZHOU, China, Aug. 30 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (Nasdaq: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that one of its subsidiaries, Able Delight (Changsha) Valve Co., Ltd. ("Able Delight"), has been certified as a qualified supplier of China Nuclear Power Engineering Co., Ltd. ("CNPE"). Able Delight is China Valves' second subsidiary after Kaifeng High Pressure Valve Co., Ltd. to receive the certification.
The certificate applies to butterfly valves, ball valves and cage guided globe valves for the conventional island of nuclear power plants and also covers Able Delight's butterfly valves with a diameter of 5.5 meters, which are the largest produced in China. The certificate is reviewed every three years.
"We are pleased for Able Delight to be certified as a qualified supplier of CNPE, another great milestone in our effort to gain more market share in the nuclear power industry," said Mr. Siping Fang, the Company's Chairman and Chief Executive Officer. "The demand for valves for nuclear power applications is growing but the inspection of prospective suppliers is strict. We believe the addition of Able Delight as a qualified supplier will become another catalyst for rapid growth."
About China Nuclear Power Engineering Co., Ltd.
China Nuclear Power Engineering Co., Ltd., was established under China National Nuclear Corporation in 2007. The main functions of CNPE include nuclear power and other nuclear engineering, engineering construction consultation and training, nuclear power project management, and nuclear technology transfer etc.
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., Able Delight (Changsha) Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd., is engaged in the development, manufacturing and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China's valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products through extensive research and development and owns a number of patents. It enjoys significant domestic market share and exports to Asia and Europe. For more information, visit http://www.cvalve.com .
Safe Harbor Statements
Any statements set forth above that are not historical facts are
forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. This press release is based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
For more information, please contact:
China Valves Technology, Inc.
Ray Chen, VP of Investor Relations
Tel: +1 650-281-8375
+86-139-2527-9478
Email: raychen@cvalve.net
Renrui Tang, CFO
Tel: +86-371-8600-9777
Email: renrui.tang@cvalve.com
Web: http://www.cvalve.com
CCG Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
Source: China Valves Technology, Inc.
