Euro Tech Holdings Company Limited Reports Ballast Water Treatment Systems
HONG KONG, July 21, 2014
HONG KONG, July 21, 2014 /PRNewswire/ -- Euro Tech Holdings Company Limited
(Nasdaq: CLWT) today reported that the company has recently obtained type
approval certificate from China's Classification Society (CCS) for its 300
Cubic Meters per hour BWTS.
The company is planning to develop a larger size of BWTS of 750 Cubic Meters
per hour to meet different requirements of its potential customers, while
looking for qualified personnel and distribution channels to market and sell
its existing BWTS. The company may seek strategic partners or external
investors for further expansion of its BWTS business.
BWTSis an imminent requirement by The International Maritime Organization
("IMO") to prevent the biological unbalance caused by the estimated 12 billion
tons of ballast water transported across the seas by ocean-going vessels when
their ballast water tanks are emptied or refilled. In 2012, ballast water
discharge standard became a law in the US. Any vessel constructed in December
2013 or later will need to comply when entering US waters, and existing
vessels will follow shortly after. The market potential for retrofits and new
installations of BWTS in these old and new ocean-going vessels is enormous.
Certain statements in this news release regarding the Company's expectations,
estimates, present view of circumstances or events, and statements containing
words such as estimates, anticipates, intends, or expects, or words of similar
import, constitute forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements indicate
uncertainty and the Company can give no assurance with regard to actual
outcomes. Specific risk factors may include, without limitation, having the
Company's offices and operations situated in Hong Kong and China, doing
business in China, competing with Chinese manufactured products, competing
with the Company's own suppliers, dependence on vendors, and lack of long term
written agreements with suppliers and customers, development of new products,
entering new markets, possible downturns in business conditions, increased
competition, loss of significant customers, availability of qualified
personnel, negotiating definitive agreements, new marketing efforts and the
timely development of resources. See the "Risk Factor" discussions in the
Company's filings with the Securities and Exchange Commission, including its
Annual Report on Form 20-F for its fiscal year ended December 31, 2013.
SOURCE Euro Tech Holdings Company Limited
Contact: Euro Tech Holdings Company Limited, Hong Kong, T.C. Leung, Chairman
and CEO, or Jerry Wong, CFO, Tel: 852-2814-0311, Fax: 852-2873-4887, Website:
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