Jinpan International Completes Construction of New Cast Resin
Transformer Manufacturing Facility in Guilin China
CARLSTADT, N.J., Jan. 23, 2013 /PRNewswire/ -- Jinpan
International Ltd (NASDAQ: JST), a leading designer, manufacturer,
and distributor of cast resin transformers, today announced that
the Company has completed construction of a new cast resin
transformer manufacturing facility in Guilin, Guangxi, China ("Guilin Facility").
The Guilin Facility is built on thirty-eight acres of land zoned
for industrial development acquired by the Company in 2011.
The Company has completed construction of four factory buildings,
three employee dormitory buildings, and one multifunctional office
building, which comprise the Guilin Facility. This facility
has been equipped with state of the art equipment for the
manufacture of cast resin transformers. At this stage, the
Company is calibrating manufacturing equipment and running trial
production at the Guilin Facility. Management expects the
Guilin Facility to begin formal operations in March 2013 and to gradually ramp up production
over the next two to three year period.
Mr. Zhiyuan Li, Chief Executive
Officer of Jinpan commented, "We are pleased to complete
construction of our new cast resin manufacturing facility in
Guilin. Integrating nearly twenty years of manufacturing
expertise and experience and equipped with state of art
manufacturing equipment, this new facility is Jinpan's largest,
most integrated and technologically advanced cast resin transformer
manufacturing facility. We believe that, when fully
utilized in the years ahead, our Guilin facility can support up to
twelve million KVA of transformer manufacturing capacity. We
expect our new facility to initially supply the China market with the potential to also supply
the broader international market in the future."
About Jinpan International Ltd
Jinpan International Ltd. (NASDAQ: JST) designs, manufactures,
and markets cast resin transformers for power distribution and wind
energy products. Jinpan's cast resin transformers allow high
voltage of electricity to be distributed to various locations in
lower, more usable voltages. The Company has obtained ISO9001 and
ISO14001 certifications. Its principal executive offices are
located in Hainan, China and its
United States office is based in
Carlstadt, 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 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