BEIJING, July 15 /PRNewswire-Asia-FirstCall/ -- LianDi
Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi" or the
"Company"), a provider of clean technology, downstream flow
equipment, engineering services and software to China's leading petroleum and petrochemical
companies, today announced the signing of two new software
contracts totaling approximately $2.7
million with Karamay Petrochemical Company and Fushun
Petrochemical Company.
LianDi will implement its proprietary dynamic simulation
training system for the operations staff at Fushun Petrochemical
Company's workers. The system uses sophisticated mathematical
models for simulating and monitoring user interface, installation,
pumps, valves, compressors, and reaction processes. The system does
the training and assessment, and also can manage the reaction
process by changing parameters real-time in the process.
Implementation will take place over the next six months.
With Karamay Petrochemical Company, the Company signed a steam
operation management system contract to improve utilization and
increase energy efficiency at the Company's steam power plant. The
contract is to be implemented in four months. Through LianDi's
software, equilibrium and coordination of optimal plant steam use
can be achieved. Excess steam can be redirected to reduce energy
consumption while ensuring smooth production.
"Our dynamic simulation training and steam operation systems are
key components of modern petrochemical enterprises," stated Mr.
Jianzhong Zuo, Chairman, Chief
Executive Officer and President of the Company. "Since our software
systems help optimize production processes and reduce related
energy consumption in China's
petroleum and petrochemical industries, we expect the government's
growing emphasis on clean energy and technology will continue to
benefit our software sales business in fiscal 2011."
In fiscal year 2010, the Company reported total software sales
of $6.4 million, 33% higher than in
2009. For 2011, the Company anticipates generating approximately
$ 9.4 million to $11.7 million in
software sales, representing at least 47% growth and comprising
about 8% to 10% of total revenues. Gross margins on total software
sales are estimated to be at least 80%.
About LianDi Clean Technology Inc.
LianDi was established in July
2004 to serve the largest Chinese petroleum and
petrochemical companies. Through its four operating subsidiaries,
Hua Shen Trading (International) Ltd., Petrochemical Engineering
Ltd., Bright Flow Control Ltd. and Beijing JianXin Petrochemical
Engineering Ltd., the Company distributes a wide range of
customized valves and equipment and provides associated value-added
technical and integration service. The Company also develops and
markets proprietary optimization software for the polymerization
process. In addition, LianDi is focused on the large, rapidly
growing, clean technology market for oil refineries, projected to
reach over $1 billion in the next 10
years. This market is expected to benefit from favorable Chinese
government policies, including tax benefits and other
incentives.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking
statements" relating to the business of LianDi and its subsidiary
companies. All statements, other than statements of historical fact
included herein are "forward-looking statements" including
statements regarding: the impact of the proceeds from the private
placement on the Company's short term business and operations; the
general ability of the Company to achieve its commercial
objectives, including the ability of the Company to sustain growth;
the business strategy, plans and objectives of the Company and its
subsidiaries; and any other statements of non-historical
information. These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's periodic reports that are filed with the
Securities and Exchange Commission and available on its website
(http://www.sec.gov )
For more information, please contact:
Company:
Joe Levinson, VP of Corporate Communications
Tel: +1-646-884-0829
Email: joe.levinson@china-liandi.com
Investor Relations:
HC International, Inc.
Ted Haberfield, Executive VP
Tel: +1-760-755-2716
Email: thaberfield@hcinternational.net
SOURCE LianDi Clean Technology Inc.