Asia Pacific Boiler Corp makes progress on strategic acquisition and investor relation

Asia Pacific Boiler Corp makes progress on strategic acquisition and investor
                                   relation

PR Newswire

HONG KONG, March 31, 2014

HONG KONG, March 31, 2014 /PRNewswire/ - ASIA PACIFIC BOILER CORPORATION
(PADR:US) ("Asia Pacific Boiler" or "the company") is pleased to announce that
the company has made great progress toward the completion of legal due
diligence, financial auditing, and other steps necessary to finish its
proposed acquisition of Million Place Investment Limited ("Million Place"), a
BVI corporation. Million Place holds an option to purchase up to 51% of Inner
Mongolia Yu Long Pump Production Co. Ltd. ("Yulong Pump"), a PRC corporation
engaged in the production and sale of industrial boilers. To date, Million
Place has completed the acquisition of 49% of Yulong Pump.

On its part, Yulong Pump has secured a Letter of Guarantee for its purchase of
Hohhot Devotion Boiler Ltd. ("Devotion Boiler"). In the Letter of Guarantee,
all shareholders of Devotion Boiler agree to collectively transfer a 100%
equity interest in Devotion Boiler to Yulong Pump by August 1, 2014.

DISCLAIMER

This press release contains "forward-looking statements." Statements in this
press release which are not purely historical are forward-looking statements
and include any statements regarding beliefs, plans, expectations or
intentions regarding the future, and specifically references to the Company
being able to finance or complete the acquisition. The reader can identify
these forward-looking statements by forward-looking words such as "may,"
"will," "intend," "seek," "anticipate," "planning," "estimated," "in the
process" or similar words. The reader should read statements that contain
these words carefully because they discuss future expectations, contain
projections of future results of operations or of financial condition, or
state other forward-looking information. Forward-looking statements include,
but are not limited to, statements regarding financing arrangements, due
diligence and due diligence results, potential acquisitions, asset valuations,
expansion efforts, future plans and objectives of Asia Pacific Boiler Corp.
The risk factors listed in our disclosure documents and the cautionary
language on the Company's website provide examples of risks, uncertainties and
events that may cause actual results to differ materially from the
expectations and projections described by Asia Pacific Boiler Corp. in its
forward-looking statements. Actual results relating to, among other things,
our prospective acquisition of Million Place Investments Limited, Inner
Mongolia Yulong Pump, or Devotion Boiler, our planned business activities or
the activities and assets of the companies we are seeking to acquire, or our
ability to obtain financing for our business, could differ materially from
those currently anticipated in such statements. Factors affecting
forward-looking statements include but are not limited to: results of due
diligence, audits and valuations; changes in economic conditions, foreign
exchange and other financial markets; changes of the interest rates on
borrowings; litigation; legislation; environmental, judicial, regulatory,
political and competitive developments in areas in which Asia Pacific Boiler
Corp. operates;. The reader should refer to the risk disclosures set out in
the periodic reports and other disclosure documents filed by Asia Pacific
Boiler Corp. from time to time with the Securities and Exchange Commission and
other regulatory authorities.

SOURCE Asia Pacific Boiler Corporation

Contact:

Contact:
Hogan Zhang
Corporate Secretary
Tel: +852 - 3979 7116
 
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