August 5, 2011
China Valves Technology Announces the Result of Third-Party Inspection Report for Hanwei Valve
ZHENGZHOU, China, Aug. 5, 2011 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that Intertek Moody Group, a third-party technical services organization, released results for its inspection of a fully welded ball valve product manufactured by Shanghai Pudong Hanwei Valve Co., Ltd. ("Shanghai Hanwei"), one of the Company's subsidiaries. According to the inspection report, Shanghai Hanwei is capable of supplying API6D large-size fully welded ball valves ranging from 42 inches to 56 inches and withstanding pressure between 150 and 900 psi.
The inspection consisted of material survey tests, welding control tests, NDT (Non-Destructive Testing), key machining equipment inspection, pressure tests, paint inspection and lifting and ring equipment inspection. For details, please refer to the full version of inspection report http://www.cvalve.com/InspectionReport.html.
"We are pleased to share this third-party report with our investors, as we believe it helps demonstrate our dedication to providing industry leading products," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "As we continue our efforts to further strengthen the quality and improve the features of our products, we hope to shape China's valve market by increasing the importance of domestic companies as suppliers of high-end valve solutions. We expect the report to help us receive more international orders."
About Intertek Moody Group
The Intertek Moody Group is a worldwide technical services organization providing technical inspection services, technical staffing services, consulting and training, and management system certification. Industries covered include Oil & Gas, Power, Mining, Construction, Engineering, Chemical, and other heavy industries. For more information, visit http://www.moodyint.com/.
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou City ZD Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Taizhou 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, manufacture 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 numerous patents. It enjoys a large domestic market share and also exports to Asia and Europe. For more information, visit http://www.cvalve.com.
Safe Harbor Statement
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. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release was developed by China Valves, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This news release is based upon information available to the public, as well as other information from sources that 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: [email protected] http://www.cvalve.com CCG Investor Relations Linda Salo, Account Manager Tel: +1 646-922-0894 E-mail: [email protected] Crocker Coulson, President Tel: +1 646-213-1915 E-mail: [email protected] http://www.ccgirasia.com
SOURCE China Valves Technology, Inc.