China Fire Awarded $10 Million Contract with China Nuclear Power
(Nasdaq: CFSG) (“China Fire” or “the Company”), a leading total solution
provider of industrial fire protection systems in China, today announced that
the Company has been awarded a contract for Fire Detection Systems with China
Nuclear Power Engineering Co., Ltd. (“CNPEC”), valued at approximately
CNPEC, headquartered in
China Guangdong Nuclear Power Group (“CGNPG”), the largest of the three
nuclear power companies in China. CGNPG is in the process of constructing five
new power-generating projects, which will have a total installed generating
capacity of approximately 21,000 MWe. Among these projects is the Taishan
Nuclear Power Plant (the “Taishan Plant”).
The Taishan Plant, located in Taishan City,
official construction on
station in China to be adopting the latest Evolutionary Power Reactor (“EPR”)
Technology. The overall plan is to build four sets of nuclear power units,
with a single unit within this project targeting capacity of 1,750 MWe, the
largest single-unit output in the world.
EPR technology is a third-generation nuclear power technology designed and
enhanced economic competitiveness compared to previous nuclear technologies.
According to the revised Chinese Medium- and Long-term Development Plan for
the Nuclear Power Industry (2005-2020), China aims to have an installed
nuclear power capacity of 70-80 gigawatts by 2020, where most nuclear power
units will adopt third generation technology.
“We are very pleased with our record contract win in the nuclear sector,
which not only demonstrates our success in the fast-growing nuclear vertical
but also further validates our continued efforts to diversify our revenue
mix,” commented Mr.
nuclear power plants require use of the most sophisticated fire protection
products, this high-profile contract win highlights our leading position in
China’s fire protection industry, as well as our excellent value proposition
and strong track record.”
Island (“NI”), Conventional Island (“CI”) and Balance of Plant (“BOP”), three
key sections of the Taishan Plant.
all aspects of supplying the Fire Detection Systems, from design and
manufacturing to installation and maintenance. Currently, the Company is also
in the process of bidding on the corresponding fire-extinguishing contract for
the Taishan Plant.
For the NI portion of the contract,
Company’s business partner, will serve as a fire-detection system designer and
equipment provider. This part of the contract is valued at approximately
Under the CI and BOP portions of the contract,
fire-detection equipment provider for various fire-detection products with a
total value of approximately
fire-detection products that include the Company’s proprietary recoverable
rate-of-rise temperature linear heat detectors, infrared flame detectors, and
special infrared flame detectors for explosion-hazard areas. The project is
expected to be completed within the next three years.
“CNPEC has been our customer since 2008, and we believe CFSG was awarded
this contract win based on CFSG’s proven capabilities of delivering the
industry’s best total fire protection solution and our deepening mutual
relationship of trust and quality with CNPEC. The third generation nuclear
power technology such as EPR technology is set to become the mainstream
technology used in China over the coming years, so we are particularly pleased
to have established a solid foothold in the market. With our strong brand and
technical leadership, we feel we are well-positioned to capture other new
business opportunities that will arise from China government’s implementation
subsidiary, Sureland Industrial Fire Safety Limited (“Sureland”), is a leading
total solution provider of industrial fire protection systems in China.
Leveraging on its proprietary technologies,
the design, manufacturing, sales and maintenance services of a broad product
portfolio including detectors, controllers, and fire extinguishers. Via its
nationwide direct sales force,
including major companies in iron and steel, power, petrochemical and
transportation industries throughout China.
management team with strong focus on standards and technologies. Currently,
system control and fire extinguishing technologies. Founded in 1995,
sales and project offices throughout China. For more information about the
Company, please go to http://www.chinafiresecurity.com .
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For more information, please contact: China Fire & Security Group, Inc. Amy Gao, Investor Relations Tel: +86-10-8441-7400 Email: firstname.lastname@example.org ICR, Inc. In China: Michael Tieu Tel: +86-10-6599-7960 Email: email@example.com In the U.S.: Bill Zima Tel: +1-203-682-8200 Email: firstname.lastname@example.org