China Valves Technology, Inc. Announces Lean Production Initiatives
ZHENGZHOU, China, April 25, 2011 /PRNewswire-Asia-FirstCall/ — China Valves Technology, Inc. (NASDAQ: CVVT) (“China Valves” or the “Company”), a leading Chinese metal valve manufacturer, today announced that Mr. Bohuai Sun, the Chairman of China Machinery Enterprise Management Association (“CMMA”) and the Dean of the Research Institute of Machinery Industry Economic Management, visited China Valves’ Zhengzhou headquarters on April 16, 2011 together with experts from First Automobile Works to coach the Company on lean production initiatives in order to lower the Company’s manufacturing cost and improve its core competitiveness.
Mr. Sun and the other experts provided training to the management teams of Zhengzhou Zhengdie Valve Co., Ltd. and Henan Kaifeng High Pressure Valve Co., Ltd., introducing the mindset, procedures and possible challenges of lean production. They also provided customized suggestions based on China Valves’ existing production conditions.
“Quality and low manufacturing cost are essential to our Company’s core competitiveness,” said Mr. Jianbao Wang, Chief Executive Officer of China Valves. “We believe that implementing lean production will help us improve our product quality while lowering our production costs, thereby helping us to maintain our industry leading position in the long term. With support from CMMA, we expect to implement lean production initiatives within one to three years.”
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co., Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., China Valve Technology (Changsha) Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd., is engaged in the development, manufacturing and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China’s valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products through extensive research and development and owns a number of patents. It enjoys significant domestic market share and exports to Asia and Europe. For more information, visit http://www.cvalve.com
Safe Harbor Statements
Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company‘s ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company‘s filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. This press release is based upon information available to the public, as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.
China Valves Technology, Inc. Gang Wei, CFO Tel: +86-371-8601-8777 E-mail: firstname.lastname@example.org http://www.cvalve.com CCG Investor Relations Linda Salo, Account Manager Tel: +1 646-922-0894 E-mail: email@example.com Crocker Coulson, President Tel: +1 646-213-1915 E-mail: firstname.lastname@example.org http://www.ccgirasia.com
SOURCE China Valves Technology, Inc.