BEIJING, July 21 /PRNewswire-Asia-FirstCall/ -- LianDi
Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi" or the
"Company"), a leading provider of clean technology, downstream flow
equipment, engineering services and software to China's leading petroleum and petrochemical
companies, today announced that the Company has appointed
Crowe Horwath (HK) CPA Limited
("Crowe") as its independent registered public accounting firm,
replacing AGCA, Inc. Crowe will provide services beginning with the
first fiscal quarter of 2011.
Crowe Horwath International is ranked among the top 10 global
accounting networks with more than 140 independent accounting and
advisory services firms with nearly 590 offices and 28,000
professionals and staff in more than 100 countries around the
world.
"We are excited that our new auditor is one of the largest in
the world. This is consistent with our ambitious growth and
expansion plans," commented Mr. Jianzhong
Zuo, chairman, chief executive officer and president of the
Company. "We believe Crowe is the best fit for the Company going
forward."
The Company's decision to change auditors was not due to any
disagreement between the Company and its former auditors on any
matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure.
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 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.