-- Achieve a customer share and product complementation
-- Increase market competitiveness
SHENYANG, Liaoning, China, Aug. 9 /PRNewswire-Asia/ -- NF Energy Saving Corp. (OTC Bulletin Board: NFEC) ("NF Energy" or the "Company"), a leading energy saving services provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, today announced that it has signed a strategic partnership with Dazhong Valve Group Co., Ltd. ("Dazhong"), a specialized manufacturer of industrial valves.
Under the terms of the agreement, NF Energy and Dazhong have agreed to cooperate in the areas of marketing, distribution, material sourcing, product research and development, quality control and mutual intellectual property protection. After extensive due diligence and product testing, each party has agreed to issue an advanced product certification for the other party's product line, enabling the two firms to cross-promote their product portfolios. The strategic partnership agreement will last for two years, expiring on June 11, 2012.
"We are extremely excited about the prospect of working with Dazhong, an established player with an outstanding reputation in the industry," remarked Mr. Gang Li, NF Energy's Chief Executive Officer. "The agreement will enable us to expand our product portfolio into the high-voltage valve category, further strengthening our competitive position in the petrochemical industry. Furthermore, the partnership allows Dazhong to leverage NF Energy's expertise in intelligent flow control and energy conservation as the company seeks to grow in these areas."
Headquartered in Wenzhou City, China, Dazhong Valve Group Co., Ltd. is a specialized manufacturer and exporter of industrial valves. With over 1,200 varieties of valves, covering more than 50 product categories, Dazhong's products are used extensively in the drainage, electric power, petrochemical and metallurgy industries.
About NF Energy Saving Corporation
NF Energy Saving Corporation (OTCBB: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com .
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forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov .
For more information, please contact:
Company Contact:
Ms. Lihua Wang, Director & CFO
Tel: +86 24-8563 1159
Email: wlh@nfenergy.com
NF Energy Saving Corp.
Web: http://www.nfenergy.com
Investor Relations Contact:
Mr. Mark Collinson, Partner
Tel: +1 310-954-1343
Email: mark.collinson@ccgir.com
CCG Investor Relations
Web: http://www.ccgirasia.com
