CTDC Signs LOI to Co-Develop the Xiamen Bay Solar City
July 08 2008 - 9:30AM
PR Newswire (US)
HONG KONG, July 8 /Xinhua-PRNewswire-FirstCall/ -- China Technology
Development Group Corporation (Nasdaq: CTDC; "CTDC" or "the
Company"), a provider of solar energy products and solutions in
China focusing on a-Si thin-film technology, today announced that
the Company signed a Letter of Intent ("LOI") with China Merchants
Zhangzhou Development Zone ("CMZD"), to co-develop the Xiamen Bay
Solar City during the Solar City's grand opening ceremony held in
CMZD on June 28th. The LOI was signed by Alan Li, Chairman and CEO
of CTDC and Mr. Bin Wu, General Manager of the CMZD. Under the
terms of the letter, 100 acres within the CMZD have been designated
for the construction of the solar city project, which will
incorporate CTDC's current SnO2 production lines and its future
BIPV applications projects. In addition, CMZD agreed to commit in
providing ongoing cooperation for CTDC to further develop its a-Si
solar thin-film technology. "We are delighted to receive this
assurance of continued strong cooperation and mutual support
between China Merchants Zhangzhou Development Zone and CTDC,"
commented by Alan Li. "The commitment will provide opportunities
for us to further develop and expand the SnO2 production facility
within the Xiamen Bay Solar City. In addition, it will allow us to
better execute our expansion strategy in the broader downstream
BIPV market." Moreover, over one hundred guests attended the
ceremony, including government officials, financial analysts and
solar industry leaders from Mainland China, Taiwan, Hong Kong and
the United States. Among the industry leaders who joined the
opening celebration was Mr. William P. Nesmith, Senior Energy
Advisor of the National Association of State Energy Officials
(NASEO) in the United States. Mr. Nesmith commented, "The Xiamen
Bay Solar City development incorporates the global trends of a
rapidly growing renewable energy sector, and demonstrates the
emphasis that the PRC local government's stronger support of the
renewable energy sector, while highlighting the capabilities and
social responsibility of Chinese solar energy enterprises." About
CTDC: CTDC is a provider of solar energy products and solutions in
China focusing on a-Si thin-film technology. CTDC's ultimate
principal shareholder is China Merchants Group (
http://www.cmhk.com/ ), one of the biggest state-owned
conglomerates in China. For more information about CTDC, please
visit our website at http://www.chinactdc.com/ For further details
of the signing of the LOI, please visit the China Merchants Group's
website at http://www.cmhk.com/dspnews.asp?newsid=6413&type=E
Forward-Looking Statement Disclosure: This press release of the
Company, which is a foreign private issuer, on Form 6-K contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, and Section 21E of the Securities Act of
1934. These statements relate to future events or the Company's
future financial performance. The Company has attempted to identify
forward-looking statements by terminology including "anticipates",
"believes", "expects", "can", "continue", "could", "estimates",
"expects", "intends", "may", "plans", "potential", "predict",
"should", or "will" or the negative of these terms or other
comparable terminology. These statements are only predictions,
uncertainties and other factors may cause the Company's actual
results, level of activity, performance or achievements to be
materially different from any future results, level of activity,
performance or achievements expressed or implied by these
forward-looking statements. The information in this Report on Form
6-K is not intended to project future performance of the Company.
Although the Company believes that the expectations reflected in
the forward- looking statements are reasonable, the Company does
not guarantee future results, level of activity, performance or
achievements. The Company's expectations are as of the date this
Form 6-K is filed, and the Company does not intend to update any of
the forward-looking statements after the date this Report on Form
6-K is filed to conform these statements to actual results, unless
required by law. Enquiries: Company Contact Selina Xing PR/IR
Department Tel: +852-3112-8461 Email: Investor Relations Peter
Schmidt, FD (Beijing) Tel: +86-10-8591-1953 Email: Amy Leung, FD
(Hong Kong) Tel: +852-3716-9800 Email: DATASOURCE: China Technology
Development Group Corporation CONTACT: Company Contact: Selina Xing
of PR/IR Department, +852-3112- 8461, ; or Investor Relations:
Peter Schmidt of FD (Beijing), +86-10-8591-1953, ; Amy Leung of FD
(Hong Kong), +852- 3716-9800, Web Site: http://www.chinactdc.com/
http://www.cmhk.com/
http://www.cmhk.com/dspnews.asp?newsid=6413&type=E
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