BEIJING, Sept. 16 /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 it has launched the development of new
operational risk management software modules for petrochemical
companies in China. LianDi plans
to develop integrated resource management software based on its
existing technologies.
"We are excited about getting a head start on our competitors in
the $100 million resource management
software market," stated Mr. Jianzhong
Zuo, Chairman, Chief Executive Officer and President of the
Company. "With the experience we have developing integrated and
scalable software modules for large petrochemical companies in
China, we are confident we can
become a market leader. We have already discussed our R&D
roadmap with China National Petroleum (CNP). Leveraging the three
software copyrights we recently received and assigning three senior
research staff on this project.
With petrochemical production processes becoming more complex
and safety requirements becoming more stringent, companies in
China are looking for a reliable
system that allows them to assess and monitor the most critical
equipment within their production facilities. Very few products
exist in China today because most
large multinationals sell products that are only compatible with
their own hardware while smaller, local competitors sell products
that lack the reliability required by large petrochemical
companies. LianDi will use its expertise, technology and
relationships with companies like China Petrochemical to fill this
gap.
LianDi's integrated resource management system has three primary
services: 1) evaluates the risk of still equipment, 2) evaluates
the risk of moving equipment, and 3) evaluates risks during
installation of new equipment. The Chinese authorities will likely
follow the EU and the U.S. in requiring all three risk analyses to
be performed by all petrochemical companies operating in
China. The price of the integrated
resource management system is approximately $2 million.
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.
About PetroChina Company Limited
PetroChina Company Limited primarily engages in the exploration,
production, and sale of crude oil and natural gas primarily in
the People's Republic of China.
The company operates in four segments: Exploration and Production,
Refining and Chemicals, Marketing, and Natural Gas and Pipeline.
The Exploration and Production segment explores, develops,
produces, and sells crude oil and natural gas. As of December 31, 2009, it had 11,263 million barrels
of proved reserves of crude oil; and 63,244 billion cubic feet of
proved reserves of natural gas. The Refining and Chemicals segment
refines crude oil and petroleum products; and produces and markets
petrochemical products, derivative petrochemical products, and
other chemical products. This segment's product line comprises
processed crude oil, gasoline, kerosene, diesel, ethylene,
synthetic resins, synthetic fiber materials, polymers, synthetic
rubber, and urea. The Marketing segment engages in the marketing of
refined products and trading business. As of December 31, 2009, it operated 17,262 service
stations. The Natural Gas and Pipeline segment involves in the
transmission of natural gas, crude oil, and refined products, as
well as in the sale of natural gas. As of December 31, 2009, its pipelines measured a total
length of 50,627 kilometers, including 28,595 kilometers of natural
gas, 13,164 kilometers of crude oil, and 8,868 kilometers of
refined product pipelines. The company was founded in 1988 and is
headquartered in Beijing, the People's
Republic of China. PetroChina Company Limited is a
subsidiary of China National Petroleum Corporation.
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:
Investor Relations:
HC International, Inc.
Ted Haberfield, Executive VP
Phone: +1-760-755-2716
Email: thaberfield@hcinternational.net
SOURCE LianDi Clean Technology Inc.
Copyright . 16 PR Newswire