TTCM China Reports the Negotiation to Acquire Jianxin Electrical Power Company in Sichuan Province
Posted on: Wednesday, 2 April 2008, 12:00 CDT
TTCM China, Inc. (Pink Sheets:TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes and related products, today announced the negotiation to acquire JianXin Electrical Power Company in HongYa Xian in Sichuan Province. The company was established in 2005 with load capacity of 7,660KW of which 630KW went into production in 2006; the balance is scheduled to go into production this year.
Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, "We are pleased with the strategic acquisition plan of the new business, thereby meeting the company's strategy of diversification and revenue growth by expanding into infrastructure business of fast growing Chinese economy."
About TTCM China, Inc. (www.ttcmchina.com)
TTCM China, founded in 1995 and based in Tianjin China, is a leading producer of glass-reinforced composite plastic and related products including high-pressure pipes to the water supply, sewerage and flood control systems. In cooperation with the Harbin Industry University, TTCM developed an advanced technology employing micro-emulsification, which enables a reduction of the amount of resin used in the production process and at the same time raises the product compactness, strength and quality. These procedures make TTCM's glass-reinforced plastic pipes superior in strength to plastic pipes while weigh only one-fourth the weight of steel pipes and one-eighth of concrete pipes.
Safe Harbor Forward-Looking Statements
Even though the Company believes the final merger with the power company will be signed in the near future, there is no assurance that there are no unforeseen obstacles which may delay the final merger.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, force d majeure, foreign-currencies exchange-rates, customers' financial conditions, general market and economic conditions, successfully completing additional financings, shipping and other risks associated with the operation in China where certain governmental economic or political situation/polices might adversely affect outcome of the envisioned business.
Source: Business Wire
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