WENZHOU, China, Oct. 9, 2018 /PRNewswire/ -- ZK International
Group Co., Ltd. (Nasdaq: ZKIN)
("ZKIN", "ZK International" or the "Company"), a designer,
engineer, manufacturer, and supplier of patented high-performance
stainless steel and carbon steel pipe products that require
sophisticated water or gas pipeline systems, today announced that
the Company has been chosen by Zhuhai Water Environment Holding
Group Co., Ltd. ("Zhuhai Water"), as a leading supplier of
stainless steel piping for updating the water supply infrastructure
in Zhuhai, China.
Zhuhai is a city on the southern coast of Guangdong province in China, located in the Pearl River Delta that
borders Hong Kong and Macau. In November
2017, the municipal government issued regulation to
immediately begin updating the existing water supply infrastructure
by increasing the use of stainless steel piping and decreasing the
use of plastic and galvanized piping in the water supply
infrastructure due to the potential contamination they may cause to
the water. To conform to the new regulation, Zhuhai Water organized
a call for tenders to invite leading stainless steel pipe
manufacturers in China to bid for
stainless steel pipe procurement program in 2019.
The China Water Network and China Water Supply and Drainage
Committee have recognized Zhuhai Water as China's most socially responsible water
service enterprise and one of China's top 40 most influential water groups.
Zhuhai Water evaluated each bid by various criteria, such as
production flow, manufacturing capacity, delivery period, and
financial liquidity. Among all the companies that were accepted as
suppliers, ZK International ranked number one. Due to the new
regulations in place regarding piping material, Zhuhai Water is
going to use stainless steel pipe for all of its future water pipe
construction projects and pipe replacement projects. By ZK
International's estimate, the total demand of stainless steel pipe
by Zhuhai Water for the next year should amount to approximately
$2 million to $3 million.
Mr. Jiancong Huang, Chairman of
ZK International, commented, "We are pleased to be selected first
amongst several of our competitors during this bidding process, as
well as, begin a new working relationship with Zhuhai Water. We
look forward to cultivating our relationship with their team and
being part of the new government regulations in the Guangdong province."
About Zhuhai Water Environment Holding Group Co.,
Ltd.
Zhuhai Water Environment Holding Group Co., Ltd. was established
in June 2009 and the first water
enterprise in China to engage in
the comprehensive business of water supply and environmental
treatment. Its business is mainly engaged in water supply and
drainage, wading engineering and environmental management. As of
the end of 2016, the Group's consolidated total assets reached
7.338 billion yuan and its net assets
were 3.399 billion yuan. China Water
Network and China Water Supply and Drainage Committee have
recognized Zhuhai Water as China's
Most Socially Responsible Water Service Enterprise and China's Top 40 Most Influential Water
Group.
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer,
engineer, manufacturer, and supplier of patented high-performance
stainless steel and carbon steel pipe products that require
sophisticated water or gas pipeline systems. The Company owns 28
patents, 21 trademarks, 2 Technical Achievement Awards, and 10
National and Industry Standard Awards. ZK International is
preparing to capitalize on the $850 billion commitment made by
the Chinese Government to improve the quality of water, which in
its current supply state is 70% unfit for human contact. ZK
International is Quality Management System Certified (ISO9001),
Environmental Management System Certified (ISO1401), and a National
Industrial Stainless Steel Production Licensee that is focused on
supplying steel piping for the multi-billion dollar industries of
Gas and Water sectors. ZK has supplied stainless steel pipelines
for over 2,000 projects, including the Beijing National Airport,
the "Water Cube" and "Bird's Nest", which were venues for the 2008
Beijing Olympics. Emphasizing superior properties and
durability of its steel piping, ZK International is providing a
solution for the delivery of high quality, highly sustainable,
environmentally sound drinkable water not only to
the China market but to international markets such
as Europe, East Asia, and Southeast Asia.
For more information please
visit www.ZKInternationalGroup.com. Additionally,
please follow the Company
on Twitter, Facebook, YouTube,
and Weibo. For further information on the Company's SEC
filings please visit www.sec.gov.
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Without limiting the generality of the foregoing, words
such as "may," "will," "expect," "believe," "anticipate," "intend,"
"could," "estimate" or "continue" or the negative or other
variations thereof or comparable terminology are intended to
identify forward-looking statements. In addition, any statements
that refer to expectations, projections or other characterizations
of future events or circumstances are forward-looking statements.
These forward-looking statements are not guarantees of future
performance and are subject to certain risks, uncertainties, and
assumptions that are difficult to predict and many of which are
beyond the control of ZK International. Actual results may
differ from those projected in the forward-looking statements due
to risks and uncertainties, as well as other risk factors that are
included in the Company's filings with the U.S. Securities and
Exchange Commission. Although ZK International believes that
the assumptions underlying the forward-looking statements are
reasonable, any of the assumptions could prove inaccurate and,
therefore, there can be no assurance that the results contemplated
in forward-looking statements will be realized. In light of
the significant uncertainties inherent in the forward-looking
information included herein, the inclusion of such information
should not be regarded as a representation by ZK International or
any other person that their objectives or plans will be achieved.
ZK International does not undertake any obligation to revise the
forward-looking statements contained herein to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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SOURCE ZK International Group Co., Ltd.