CARLSTADT, N.J., May 23, 2012 /PRNewswire/ -- Jinpan
International Ltd (Nasdaq: JST) (the "Company"), a leading
designer, manufacturer, and distributor of cast resin dry type
transformers, today announced that its subsidiary Hainan Jinpan
Electric Co. Ltd. successfully developed a 40,000KVA / 35KV cast
resin dry type power transformer. The Company has shipped the
transformer to the customer's site in China's Anhui
province for installation in a transformer substation that will
deliver power to gas liquification systems.
In recent years, utilities in China have favored dry-type over oil-filled
transformers due to the dry type transformers' advantages in terms
of energy efficiency, safety, and environmental impact.
However, due to limitations in insulation and manufacturing
technology, only a handful of manufacturers in China are capable of manufacturing large-scale
dry-type transformers with capacities exceeding
10,000KVA.
Mr. Zhiyuan Li, Chief Executive
Officer of Jinpan, commented that "We believe that Jinpan is the
first company in China to
successfully develop a 40,000 KVA / 35KV cast resin dry type
transformer, which we also believe is one of the largest cast resin
dry type transformers in the world. Prior to this
transformer, the largest cast resin dry type transformer developed
by Chinese manufacturers was 25,000KVA. Jinpan's development of a
40,000KVA transformer represents a significant technical
break-through in its manufacturing technology. It further
demonstrates that Jinpan is a world class manufacturer."
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 are 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, 2011 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.
SOURCE Jinpan International Ltd