BEIJING, Nov. 15, 2010 /PRNewswire-Asia-FirstCall/ --
Duoyuan Global Water Inc. (NYSE: DGW) ("Duoyuan" or the "Company"),
a leading China-based domestic
water treatment equipment supplier, today announced that the
Company has recently signed two additional licensing agreements,
which will enhance the Company's technological capabilities and
broaden its product offerings.
One licensing agreement is with a US-based firm and will broaden
the Company's product offerings to include high-end reverse osmosis
membrane, nanofiltration membrane and large-size membrane elements
technology. The reverse osmosis membrane is a water treatment
product that is used in desalination of sea water, purification of
brackish water, industrial water, and domestic water and reuse of
wastewater. By 2009, the demand in China for these products had already exceeded
RMB20 billion and is estimated to
continue to grow by 20-25% per year. Currently, ninety percent of
this demand is being fulfilled by overseas imports. The
Company expects to complete construction and installation of the
manufacturing facilities by late 2011 and to begin production in
2012.
The other licensing agreement is with a Netherlands-based firm and will enhance the
Company's ozone technology products by introducing more efficient
and energy-saving disinfection technology, which combines ozone and
advanced oxidation technology to reduce the energy consumption of
the Company's current product offerings by approximately 30%.
Ozone products have been a key focus of the Company's
research and development efforts. This agreement allows the
Company to enhance existing technologies to industry-leading
standards. The ozone product market in China reached approximately RMB10 billion in 2009 and is expected to continue
to grow at a rate of approximately 20% per year. The Company
expects to begin production of the new ozone products in mid 2011
and the advanced oxidation products by the end of 2011.
Mr. Wenhua Guo, the Company's
Chairman and Chief Executive Officer, stated, "We are extremely
excited to continue to effectively execute our capital expenditure
plans. The acquisition of these two licensing agreements will
not only complement our existing products but also further
diversify our product portfolio. In addition, we are pleased
to bring these advanced technologies to the China market and further strengthen the cost
savings and energy efficiencies of our products. Overall,
these technologies mark an important milestone in the technological
development of Duoyuan and will allow us to better ensure that our
customers have access to industry-leading, world-class
products."
About Duoyuan Global Water Inc.
Duoyuan Global Water Inc. is a leading China-based domestic water treatment equipment
supplier. Duoyuan's product offerings address key steps in
the water treatment process, such as filtration, water softening,
water-sediment separation, aeration, disinfection and reverse
osmosis. Duoyuan offers a comprehensive set of complementary
products across three product categories: water conservation,
including circulating water treatment; water purification; and
water reuse treatment, including wastewater treatment. The Company
has an extensive local distribution network, which provides
proximity to end-user customers and responsiveness to local market
demand. Learn more at www.duoyuan-hq.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including certain plans, expectations, goals, and
projections, which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements may include, but
are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate,"
"predict," "potential," "expects," "intends" and "future" or
similar expressions. These forward-looking statements speak only as
of the date of this press release and are subject to change at any
time. These forward-looking statements are based upon
management's current expectations and are subject to a number of
risks, uncertainties and contingencies, many of which are beyond
the Company's control that may cause actual results, levels of
activity, performance or achievements to differ materially from any
future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. The
Company's actual results could differ materially from those
contained in the forward-looking statements due to a number of
factors, including those described under the heading "Risk Factors"
in the Company's final prospectus, dated January 27, 2010, filed with the Securities and
Exchange Commission, and in documents subsequently filed by the
Company from time to time with the Securities and Exchange
Commission. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact
Information
|
|
ICR,
LLC
|
|
In the
U.S.: Ashley M. Ammon:
1-646-277-1227
|
|
In China: Wen Lei
Zheng: 86-10-6583-7510
|
|
|
SOURCE Duoyuan Global Water Inc.