KAIFENG, China, Aug. 3, 2009 -- China Valves Technology Inc., a leading metal valve manufacturer with operations in the People's Republic of China (PRC), today announced that its subsidiary, Zhengzhou Zhengdie Valve Co, Ltd. received purchase orders in July 2009 for two-way metal sealing butterfly valves from Kunshan Water Group Inc. and Guangzhou Water Supply Company, valued at $1.2 million and $3.1 million, respectively.
Two-way metal sealing butterfly valves are primarily used to control municipal water and sewage flow. Traditionally, the PRC has relied on imports from overseas manufacturers for these high-tech valves. At the end of 2008, the Company's Integral Foundry DN3600 two-way metal sealing butterfly valves passed the examination by China's authoritative machinery inspection institution in the PRC, making the Company the only domestic manufacturer capable of manufacturing these products in the PRC.
"As the only company in China in possession of the patented, cutting-edge technology required to produce these flow control valves, we are in a unique position to benefit from the Chinese central government's plans to secure the water supply and increase water treatment capacity," said Mr. Siping Fang, Chairman and CEO of China Valves. "We believe these purchase orders are an indication of increased infrastructure investment by municipal governments as a result of the Chinese government's overall economic stimulus program. We expect China Valves to continue to benefit from additional investment in municipal infrastructure projects in the second half of 2009, as the stimulus funds continue to work their way through the Chinese economy."
Guangzhou Water Supply Company, founded in October 1905, is a large state-owned water supply enterprise headquartered in Guangzhou, Guangdong province, the PRC.
Kunshan Water Group Inc. is a state-owned water supply enterprise headquartered in Kunshan, Jiangsu province, the PRC. It provides integrated services, including drinking water source maintenance, water supply and treatment, and sewage water treatment.
China Valves Technology Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., and Tai Zhou Tai De Valve Co., Ltd. is engaged in development, manufacture and sale of high-quality metal valves for nuclear and thermal power electricity, petroleum, chemical, water supply, gas and metallurgy industries.
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