BEIJING, Jan. 20, 2011 /PRNewswire-Asia-FirstCall/ --
LianDi Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi"
or the "Company"), a provider of downstream flow equipment,
engineering services, software, and clean technology to
China's leading petroleum and
petrochemical companies, today announced it has signed an agreement
with Ruhrpumpen, a leading manufacturer of pumps located in Witten,
Germany, to become a distributor
of Ruhrpumpen's products in China.
Ruhrpumpen, with manufacturing or sales offices in six countries
located on four continents, is a leading manufacturer of pumps and
pumping technologies for a variety of industries, including oil and
gas.
"We are delighted to have Ruhrpumpen as our new distribution
partner in Asia," explained Mr.
Jianzhong Zuo, Chairman, Chief
Executive Officer and President of the Company. "This agreement
allows us to expand into pump solutions, a more than $1.5 billion market in the oil and gas and
petrochemical industry and a new product offering for LianDi. By
combining Ruhrpumpen's broad product portfolio with our strong
relationships and servicing capabilities, we believe we are well
positioned to capture a larger share of the Chinese oil refiners'
rising capital expenditures."
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:
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Investor Relations:
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HC International,
Inc.
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Ted Haberfield,
Executive VP
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Tel:
+1-760-755-2716
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Email:
thaberfield@hcinternational.net
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SOURCE LianDi Clean Technology Inc.