YANTAI, China, March 26, 2020 /PRNewswire/ -- Newater
Technology, Inc. (NASDAQ: NEWA) ("NEWA", "we", "our" or the
"Company"), a developer, service provider and manufacturer of
membrane filtration products and related hardware and engineered
systems that are used in the treatment, recycling and discharge of
wastewater, today announced that is has resumed production and
business activities after the outbreak throughout of the novel
coronavirus, commonly referred to as "COVID-19." During China's
Spring Festival holiday, Newater actively conducted epidemic
prevention, and obtained the government's approval to allow it to
officially return to work on February
10, 2020. The Company emphasizes the continuous
importance of safety and health for its employees and in its
production, including comprehensive disinfection, and requiring all
of its employees to have their temperature taken three times a
day.
Newater's fully automated production line allows it to reduce
the dependence on human labor and contact, creating a less
labor-intensive working environment, which improves the production
efficiency, and safety of its workers. Further, the Company
believes the fully automated production line helped it return to
work in a timely manner after the epidemic, mitigating the loss to
its business operations and financial condition.
Recent Events
In December 2019, the Company
entered into a General Contract for Advanced Treatment Project BT
(Build and Transfer) of Mine Water
(the "Contract") with Yulin Yuyang Zhongneng Yuandatan Mining Co.
Ltd., for a coal mine wastewater treatment project (the "Project").
Pursuant to the terms of the Contract the Project is required to be
completed by September 30, 2020.
Currently, civil construction and drawing design for the Project
has been implemented, and five sets of DTRO filtration equipment
are under production and assembly at the same time.
On March 21, 2020, Newater
completed the manufacturing of landfill leachate treatment
equipment and successfully sent the equipment to a project site
located in Panzhihua City, Sichuan
province. At the same time, the Company is manufacturing multiple
sets of water filtration equipment that will be dispatched to
projects located in Sichuan
Province, Nanjing city, and
Baotou City in the near future.
With its own technological strength and management experience,
Newater has steadily and efficiently achieved full-scale production
after the COVID-19 outbreak. Newater plans to continually move
forward in accordance with its business goals and creating more
market-competitive products and services for society.
About Newater Technology, Inc.
Founded in 2012 and headquartered in Yantai, China, Newater specializes in the development,
manufacture and sale of DTRO (Disk Tube Reverse Osmosis) and DTNF
(Disk Tube Nano-Filtration) membranes for wastewater treatment,
recycling and discharge. Newater provides integrated technical
solutions in engineering support and installation, technical advice
and services, and other project-related solutions to turn
wastewater into valuable clean water. Newater also provides
wastewater treatment services, such as landfill leachate treatment
and purification services.
The Company's products can be used across a wide spectrum of
industries, including:
- Landfill
Leachate
|
- Industrial Park
Common Effluent
|
|
|
- Wastewater from
coal mines
|
- Briny
Wastewater
|
More information about the Company can be found at:
www.dtnewa.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may", "will", "intend", "should", "believe", "expect",
"anticipate", "project", "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Specifically, the Company's statements
regarding: 1) its response to COVID-19 and impact on its business;
2) the ability of its automatic production line to continue to
offset losses to its business; 3) the successful completion of the
Project; and 4) its ability to achieve its business goals including
the creation of new products are forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that may cause the actual
results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the water filtration industry in China; reputation and brand; the impact of
competition and pricing; government regulations; fluctuations in
general economic and business conditions in China and assumptions underlying or related to
any of the foregoing and other risks contained in reports filed by
the Company with the Securities and Exchange Commission. For
these reasons, among others, investors are cautioned not to place
undue reliance upon any forward-looking statements in this press
release. Additional factors are discussed in the Company's filings
with the U.S. Securities and Exchange Commission, which are
available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
View original
content:http://www.prnewswire.com/news-releases/newater-technology-inc-resumes-business-activities-through-the-assistance-of-its-fully-automated-production-line-301030214.html
SOURCE Newater Technology, Inc.