Hanwei Energy Confirms New Pipe Order of $4.6 Million
04 Febrero 2013 - 4:38PM
Marketwired
Hanwei Energy Services Corp. (TSX:HE) ("Hanwei" or the "Company"),
today announced that it has been awarded a new order of
approximately $4.6 million for the supply of the Company's high
pressure, glass reinforced epoxy pipes and fittings to a client in
Kazakhstan. At least one quarter of this order is expected to be
produced and shipped within the Company's current 2013 Fiscal Year
(ending March 31, 2012).
As of the date of this press release the Company has confirmed
sales orders of approximately $18 million. This is inclusive of the
abovementioned new Kazakhstan order and in addition to the $13.2
million of revenue recognized as at September 30, 2012.
For reference the Company's revenue in its previous 2012 Fiscal
Year was $27.7 million. Hanwei will hold a conference call at
1:00PM EST on Thursday, February 7, 2013 to discuss its financial
results for the third quarter ended December 31, 2012.
About Hanwei Energy Services Corp.
Hanwei Energy Services Corp. is a leading manufacturer of high
and low pressure, fiberglass reinforced plastic pipe products and
associated technologies and services for the international oil and
gas, and infrastructure industries. Hanwei serves major energy
customers in the Chinese and global energy markets.
FORWARD-LOOKING INFORMATION
The forward-looking information in this press release presents
the Company's expectations as of the date of this press release and
accordingly is subject to change after such date. Readers are
cautioned that reference to "orders" hereto are not recognized
under IFRS and should not be construed to be indicators of
performance or purported to be an alternative to sales or any other
financial measures under IFRS. Readers should not place undue
importance on forward-looking information and should not rely upon
this information as of any other date. While the Company may elect
to, the Company does not undertake to update this information at
any particular time, except as required by applicable securities
legislation.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
Contacts: Hanwei Energy Services Corp. Graham Kwan Executive VP,
Strategic Development and Corporate Affairs 604-685-2239
x108gkwan@hanweienergy.com Hanwei Energy Services Corp. Yucai
(Rick) Huang Chief Financial Officer 604-685-2239
x106yhuang@hanweienergy.com www.hanweienergy.com
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