HONG KONG, May 10, 2016 /PRNewswire/ -- Euro Tech Holdings
Company Limited (Nasdaq: CLWT) reported that the company has
obtained type approval certificate from China's Classification Society ("CCS") for its
200, 300, 500, 750, 1200 and 1250 Cubic Meters per hour BWTS today.
Other foreign type approval certificates can easily be acquired
once CCS type approval certificate has
been obtained. The Company is now actively developing
sales channels for sales and marketing of BWTS, both inside and
outside of China.
About BWTS
BWTS are 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. IMO requires that the Ballast Water Management
Convention will enter into force 12 months after ratification by 30
States, representing 35% of world merchant shipping tonnage. As of
April 22, 2016, 50 countries had
joined, representing 34.83% of world merchant shipping tonnage. 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, 2015.
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SOURCE Euro Tech Holdings Company Limited