WENZHOU, China, Dec. 11, 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 selected by China Railway First Bureau Group Construction and
Installation Engineering Co., Ltd. to supply its premium
thin-walled, stainless steel piping products for the second phase
project of Beijing's Rail Transit
Line 7. This bid, valued at US$580,000 (3.98 million
yuan), marks ZK International's entry into the rail
transportation infrastructure market.
As Chinese cities are growing ever bigger and traffic jams are
getting worse, the traditional public transport cannot meet city
dwellers' mobility need any longer, and rail transit in consequence
becomes indispensable to address heavy traffic congestion in big
cities since it is characterized by high speed, large carrying
capacity and less pollution. China has entered a fast
development stage for rail transit and construction of high-speed
rails, subways and intercity rails are either under way or in the
pipeline across the country.
Supporting this infrastructure growth of rail transportation is
the Nikkei Asian Reviewer where on August
14, 2018 it writes, "In a meeting with the National
Development and Reform Commission, which leads the country's
economic policy, state-owned China Railway decided to increase the
2018 railway construction budget to over 800
billion yuan ($116 billion),
up 68 billion yuan, or 10%, from the
initially budgeted 732 billion yuan
($106 billion).
Mr. Jiancong Huang, Chairman of
ZK International, commented, "We are extremely pleased to play an
integral role in the continued development of one of Beijing's most rapidly growing industries.
China's urban rail transit system
is highly valued by the Chinese government, as a primary means of
satisfying the basic travel needs of the people. As this system
continues to expand due to the acceleration of urbanization in
China, and an emphasis on
infrastructure development and meeting regulatory standards
continues to be a top priority by the government, a significant
growth opportunity lies ahead for ZK. With this project win, we are
entering the rail transit industry in an extremely strong position
due to this opportunity to work with China Railway First Bureau,
one of China's most notable
businesses dedicated to the construction and modernization of
China's infrastructure."
In recent years, the urban rail transit has been greatly
developed, and it has shown a simultaneous development trend of
various standards. According to the "2016 Statistical and
Analytical Report of Urban Rail Transit" issued by China Urban Rail
Transit Association, as of the end of 2016, 133 urban rail transit
lines have been completed and put into operation in China with 4,153 kilometers of operating
lines, 3,168.7 kilometers or 76.3% of which are subways. In 2016,
384.7 billion yuan (US$58.29 billion) was invested in the urban rail
transit, and a total of 636.5 kilometers of urban rail lines were
under construction, both hitting record highs. According to
incomplete statistics, as of the end of 2016, a total of 58 cities
have been approved for urban rail network planning, with a total
planned investment of 3,701.84 billion
yuan (US$560.91 billion).
About China Railway First Bureau Group Co., Ltd.
China Railway First Bureau Group Co., Ltd. (referred to as China
Railway First Bureau), formerly known as First Engineering Bureau
of the Ministry of Railways, is a wholly-owned subsidiary of China
National Railway Corporation, a Fortune 500 company. China Railway
First Bureau has design and construction qualifications for
buildings, railways, highways, bridges, tunnels and public
infrastructures. As of the end of 2017, China Railway First Bureau
had 25,354 employees, 50.496
billion-yuan in total assets and 8.685 billion yuan in net assets. China Railway
First Bureau has always been committed to the construction of
national infrastructure. In the past 60 years, it has built more
than 120 railways and a total of over 33,000 kilometers, accounting
for about one-seventh of the total number of new Chinese railways.
It has also built more than 7,500 kilometers of roads and more than
18 million square meters of buildings, and about 300 municipal
projects. Its business scope covers all provinces, municipalities
and autonomous regions across China except for Macao and Taiwan, and reaches more than ten countries
including Singapore, Pakistan, Fiji and Malaysia.
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.