China Power Equipment Participated in ASEAN Energy Business Forum 2011
XI’AN, China, Sept. 27, 2011 /PRNewswire-Asia-FirstCall/ — China Power Equipment, Inc. (“China Power Equipment”, OTC Bulletin Board: CPQQ), a manufacturer of a new generation of energy saving amorphous metal transformer cores and transformers in China, today announced that the Company attended The ASEAN Energy Business Forum 2011 in Brunei from September 20 to 23, 2011.
ASEAN Energy Business Forum is one of the biggest events in the energy industry, and is also one of the most important meetings held alongside the ASEAN Ministers on Energy Meeting. The forum was hosted by the Energy Department, the Prime Minister’s Office of Brunei Darussalam, and co-organized by other ASEAN Energy Ministries.
The purpose of the meeting was to discuss the rising energy needs of the ASEAN and Asia Pacific regions and to foster cross border cooperation on energy technologies in long-term energy development. The Brunei government supports efforts to improve energy efficiency and welcomes cooperation with Chinese companies to achieve their goal. Many multinational corporations including; GE, Siemens, Mitsubishi Motors, Schneider Electrics, showcased their products and technologies at the expo.
Amorphous metal transformers were the main theme for China-ASEAN cooperation in the Brunei Energy Expo (BEE2011). His Majesty, The Sultan of Brunei, and Gen. Haji Sir Hassanal Bolkiah Mu’izzaddin Waddaulah attended the event and expressed interest in the amorphous metal transformer technology and the energy savings the technology provides.
Being a specialized supplier of oilfield amorphous core transformers, China Power Equipment, together with four other leading amorphous cores and amorphous transformer manufacturers in China and the leading supplier of amorphous metal materials in the world, Hitachi Metals, participated in the three-day event as Asian representatives for the amorphous transformer industry. Mr. Song Yongxing, Chairman and CEO of China Power Equipment, and Mr. Jerry Li, President of Asia Energy Platform and Vice President of Hitachi Metals, detailed the Company’s expertise in oilfield transformers and the development of amorphous metal transformers in Asia to His Majesty and the Ministers who visited the amorphous metal transformer booth. China Power Equipment also communicated with numerous ASEAN energy officials and companies in the showcase themed “Amorphous Metal Transformers in Asia”.
Ms. Lillian Feng, the Executive Director of China Power Equipment said, “Though our focus remains on expanding our sales in China, over time, we expect that more ASEAN countries will become interested in energy-saving products like our amorphous core transformers, and we will actively follow the market trends and opportunities for any export sales.”
Chairman and CEO, Mr. Song Yongxing added, “Many ASEAN countries are interested in partnering with companies like China Power Equipment that possess the capacity and technological know-how in developing energy efficient technologies and equipment. As the richest country in Asia, Brunei Darussalam’s oil and related industries account for over 80% of its GDP and thus they have a strong interest in finding energy efficient solutions they can apply to the oilfield industry. With seven years of experience in the application of amorphous metal transformers in oilfields, China Power Equipment attracted interest and following during the forum and the showcase. We were honored to be recognized as an important player in the amorphous transformers market and we will continue to invest in developing new products and technologies for this growing sector.”
About China Power Equipment, Inc.
China Power Equipment, Inc., is a U.S. corporation, which through its wholly-owned subsidiary, An Sen (Xi’an) Power Science & Technology Co., Ltd., and its affiliated operating company, Xi’an Amorphous Alloy Zhongxi Transformer Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core distribution transformers in the People’s Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers.
Safe Harbor Statement
Certain statements in this release concerning our future growth prospects are forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These forward-looking statements can be identified by terminology such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “future,” “intends,” “plans,” “should,” “will,” and similar statements.
The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of the company’s investments, risks and uncertainties regarding fluctuations in earnings, its ability to sustain its previous levels of profitability including on account of its ability to manage growth, intense competition, wage and inflation increases in China, its ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, its ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts, and legal restrictions on raising capital or acquiring companies outside China.
Additional risks that could affect the company’s future operating results are more fully described in its filings with U.S. Securities and Exchange Commission. These filings are available at www.sec.gov and at www.chinapower-equipment.com.
The company may, from time to time, make additional written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q, and 8-K, in its annual report to shareholders, in news releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. The company does not undertake to update any forward-looking statements that may be made from time to time by or on its behalf, except as required under law.
For more information about China Power Equipment, please visit its website at www.chinapower-equipment.com.
For more information, please contact: COMPANY: Ms. Nicole Chen (English and Chinese) Vice President of Finance China Power Equipment, Inc. Telephone: +86 (29) 6261 9758 Mobile: +86 186 1633 1170 Email: email@example.com www.chinapower-equipment.com INVESTOR RELATIONS: John Mattio, SVP MZ-HCI Tel: +1-212-301-7130 Email: firstname.lastname@example.org www.mz-hci.com
SOURCE China Power Equipment, Inc.