WEIFANG, China, April 17, 2012 /PRNewswire-Asia/ -- Since
December 2003, Weifang Hengyuan Oil
Pump and Nozzle Co., Ltd., a subsidiary company wholly owned by
Xinde Science and Technology Co., Ltd.(OTCBB: WTFS),
has been closely cooperating with the State Key Laboratory of
Engines of Tianjin University and
succeeded in developing Diesel Engine FIRCRI Common Rail
Electrically-controlled Fuel Injection System, which is a national
"863" key project, and has been granted a technical patent
certificate, with exclusive intellectual property owned by our
company. This product is comparable to the oil injection system of
Robert Bosch and Denso and can
entirely replace import products. This product has independent
intellectual property, high performance-price ratio and adapts well
to China's oil characteristics. It
meets a stricter emission standard higher than the Euro III/IV
emission standards, and can be widely used in various types of
diesel engines for car, truck, engineering machinery and
locomotive. As soon as the product is developed, it has been booked
up by Weichai Power (stock code: HK2338,SZ000338, Jiangsu Jianghuai
Engine Co., Ltd. (stock code: SZ000816) and Sichuan Emei Diesel
Engine Co., Ltd. (stock code: SZ000757). It can be said that the
market demands of domestic combustion engine enterprises is in very
short supply. It is expected that the designed production capacity
of the phase-I project is 200,000 sets and can realize sales
revenue of USD300 million.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995:
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations
or beliefs, including, statements concerning the Company's
operations, financial performance and condition. For this purpose,
statements that are not statements of historical fact may be deemed
to be forward-looking statements. The Company cautions that these
statements by their nature involve risks and uncertainties, and
actual results may differ materially depending on a variety
important factors, including, but not limited to, the impact of
competitive conditions and effectiveness of marketing; changes in
laws and regulations; fluctuations in costs of production,
financing and other factors as discussed in the Company's reports
filed with the Securities and Exchange Commission from time to
time, In addition, the Company disclaims any obligation to update
any forward-looking statement to reflect events or circumstances
after the date hereof. No securities regulatory authority has
either approved or disapproved the contents of this new release.
This release is not an offer of securities for sale in the
United States. Securities may not
be offered or sold in the United States absent
registration or an exemption from registration. Any public offering
of securities to be made in the United States will be made by means of a
prospectus that may be obtained from the issuer or selling security
holder and that will contain detailed information about the company
and management, as well as financial statements. The Company
filings with the US Securities and Exchange Commission, including
the quarterly report for the three months ended March 31,
2011 on Form 10-Q, can be viewed on EDGAR Online
or www.sec.gov.
Contacts:
Dianjun Liu
President and CEO
ceo@chinaxinde.cn
Tel (Fax):86-536-8322068
SOURCE Xinde Technology Company