Ossen Innovation Signs Two Contracts for Major Bridge Projects to be Delivered Through 2012
SHANGHAI, May 20, 2011 /PRNewswire-Asia-FirstCall/ — Ossen Innovation Co., Ltd. (“Ossen” or the “Company”) (NASDAQ: OSN), a China-based manufacturer primarily engaged in manufacturing of galvanized pre-stressed steel wires used in the production of bridge cables, today announced that it has signed two contracts to provide proprietary galvanized pre-stressed steel wires for the construction of Maanshan Yangtze River Expressway Bridge and Jiujiang Yangtze River Expressway Bridge. The company will produce and deliver products through 2012.
“As we have signed both contracts, we have stepped closer towards our earnings target for the year,” said Dr. Liang Tang, Chairman of Ossen Innovation Co., Ltd. “We are at the beginning of a major boom for bridge construction in China as governments across the country accelerate the connection of major highways and railways. We will continue to leverage our brand recognition and advanced products to win major projects such as these two as we grow our capacity for future growth.”
About Maanshan Yangtze River Expressway Bridge
One of the critical infrastructure projects in Anhui Province, China. This bridge has a unique design combining tri-tower suspension structure with tri-tower stayed-cable structure into one project. It has a main span of over 1,000 meters, the longest main span of its kind in the world as of today. It is also the first bridge in China that uses oval-shaped arch tower structure.
About Jiujiang Yangtze River Expressway Bridge
A component of the 2,485km expressway project that connects Fuzhou and Yinchuan. Located in Jiangxi Province, this stayed-cable bridge has a twin tower design. Main span of the bridge is about 818 meters long, the 6th longest among all stayed-cable bridges in the world. 216 steel cables will be installed on the bridge.
About Ossen Innovation Co., Ltd.
Ossen Innovation Co., Ltd. manufactures and sells galvanized pre-stressed steel wires used in the production of bridge cables as well as other pre-stressed materials. The Company’s products are mainly used in the construction of bridges and other infrastructure projects. Ossen has two manufacturing facilities located in Maanshan, Anhui Province, and Jiujiang, Jiangxi Province.
Safe Harbor Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company’s public filings with the Securities and Exchange Commission, including the Company’s registration statement on Form F-1, as amended. All information provided in this press release is as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
For more information, please contact: Ossen Innovation Co., Ltd. Alan Jin, Chief Financial Officer Email: firstname.lastname@example.org Phone: +86 (21) 6888-8886 Web: www.osseninnovation.com Investor Relations HC International Ted Haberfield, Executive Vice President Phone: +1-760-755-2716 Email: email@example.com Web: www.hcinternational.net
SOURCE Ossen Innovation Co., Ltd.