Jinpan International Announces Completion of Shanghai Facility Ahead of Schedule
September 02 2009 - 4:01PM
PR Newswire (US)
ENGLEWOOD CLIFFS, N.J., Sept. 2 /PRNewswire-FirstCall/ -- Jinpan
International Ltd. (NASDAQ:JST), a leading designer, manufacturer
and distributor of cast resin transformers for high voltage
distribution equipment in China, today announced that it has
completed the phase 1 renovation and construction of its Shanghai
facility approximately one month ahead of schedule. Phase 1
completion of the Shanghai facility will increase the Company's
total transformer capacity by 11% from 9.0 million KVA to 10.1
million KVA and increase total production capacity for
complementary power distribution products and integrated assemblies
by 300% over current levels. Located in the Shanghai Qingpu
Industrial Park, this site covers an area of 71,000 square meters.
Mr. Zhiyuan Li, Chief Executive Officer of Jinpan stated, "We are
excited to announce the completion of the first phase of our
Shanghai manufacturing facility. At the new Shanghai facility, we
will focus on the production of complementary power distribution
products for wind power applications and integrated assemblies such
as unit substations, as well as other more highly engineered
products. We look forward to our continued push into the growing
market of alternative energy generation." About Jinpan
International Ltd Jinpan International Ltd. (NASDAQ:JST) designs,
manufactures and distributes cast resin transformers for high
voltage distribution equipment in China and other countries around
the world. Jinpan's cast resin transformers allow high voltage
transmissions of electricity to be distributed to various locations
at lower, more usable voltage levels. The Company has obtained
ISO9001 and ISO1401 certification of its cast resin transformers.
Its principal executive offices are located in Hainan, China and
its U.S. headquarters is based in Englewood Cliffs, New Jersey.
Safe Harbor Provision This press release contains forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management's current
expectations and observations and involve known and unknown risks,
and uncertainties or other factors not under the Company's control,
which may cause actual results, performance or achievements of the
company to be materially different from the results, performance or
other expectations implied by these forward-looking statements.
These factors include, but are not limited to, the following: --
our ability to successfully implement our business strategy; -- the
impact of existing and new competitors in the markets in which we
compete, including competitors that may offer less expensive
products and services, more desirable or innovative products or
technological substitutes, or have more extensive resources or
better financing; -- the effects of rapid technological changes and
vigorous competition in the markets in which we operate; --
uncertainties about the future growth in electricity consumption
and infrastructure development in the markets in which we operate;
-- other factors or trends affecting the industry generally and our
financial condition in particular; -- the effects of the higher
degree of regulation in the markets in which we operate; -- general
economic and political conditions in the countries in which we
operate or other countries which have an impact on our business
activities or investments; -- the monetary and interest rate
policies of the countries in which we operate; -- changes in
competition and the pricing environments in the countries in which
we operate; -- exchange rates; and -- other factors listed from
time-to-time in our filings with the Securities and Exchange
Commission, including, without limitation, our Annual Report on
Form 20-F for the period ended December 31, 2007 and our subsequent
reports on Form 6-K. Except as required by law, we are not under
any obligation, and expressly disclaim any obligation, to update or
alter any forward-looking statements, whether as a result of new
information, future events or otherwise. DATASOURCE: Jinpan
International Ltd. CONTACT: Investors, Jinpan International Ltd.,
Mark Du, Chief Financial Officer, +1-201-227-0680; or ICR, Inc., In
China, Yuening Jiang, +86-10-6599-7965; or In U.S., Brian M.
Prenoveau, CFA, +1-203-682-8200
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