WENZHOU, China, June 12, 2020
/PRNewswire/ -- ZK International Group Co.,
Ltd. (ZKIN) ("ZK International" or the "Company"), a
designer, engineer, manufacturer, and supplier of patented
high-performance stainless steel and carbon steel pipe products
primarily used for water and gas supplies, today announced that it
entered into an Exclusive
Supplying and Distribution Framework Agreement with Shandong Huaye
Group ("Huaye"), a leading structural and fencing piping products
manufacturer and suppliers in China, for Huaye's ongoing production line and
machine upgrades (the "Upgrades') and act as the Company's
strategic supplier and distributor.
The Upgrades, with Huaye's plan to allocate a total budget of
RMB 350 million (approximately
$49.7 million), is now underway at
Huaye's existing 120,000 square meters facility in Mengyin County,
Shandong Province. The Company
licensed its patented technologies and assigned experienced
engineers to support the Upgrades. Phase I of the Upgrades is
expected to be completed by September, 2020 and will enable Huaye
to manufacture premium gas and water pipe products that the Company
specializes in.
The major purpose for the partnership is to exchange resources
and create synergies between Huaye and the Company. Upon completion
of the Upgrades, Huaye will exclusively manufacture water and gas
pipe products for the Company that will significantly shorten the
Company's delivery cycle. Huaye, as a leading structural and
fencing piping products manufacturer, will distribute the Company's
products to its customer base which consists of more than 500
construction and real estate developing companies.
Mr. Jiancong Huang, Chairman and Chief Executive Officer of
ZK International, commented, "For over 18 years, Huaye has
established itself as one of the leading manufacturers and
suppliers of stainless steel structural and fencing piping products
in the Northern and Eastern regions of China, particularly in Shandong Province. We are pleased to leverage
our technological know-how with the Huaye partnership by assisting
Huaye in its production line, re-tooling, and machine upgrades. As
we are exploring potential broader cooperation with Huaye, we are
optimistic that a geographically complementary and mutually
beneficial relationship can be developed between the two
parties."
About Shandong Huaye Group Co., Ltd.
Headquartered in Mengyin County, Shandong Province, Shandong Huaye Group Co.,
Ltd. ("Huaye") is a manufacturer and supplier of stainless steel
coil/strip and pipe products with annual production capacity of
200,000 metric tons of stainless steel coil/strip and 100,000
metric tons of stainless steel pipe products. Since 2001, Huaye has
been selling its stainless steel products that are widely used for
kitchenware, architectural decoration, industrial manufacturing and
many other areas both domestically and overseas in over 30
countries. More information about Huaya can be found at
www.shandonghuaye.com.
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 33
patents, 21 trademarks, 2 Technical Achievement Awards, and 10
National and Industry Standard Awards. 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 also 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 guarantee 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.
Investor Contact:
Tony Tian, CFA
Weitian Group LLC
Phone: +1 (732) 910-9692
Email: ttian@weitianco.com
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SOURCE ZK International Group Co., Ltd.