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  • Tri-Tech Holding, Inc. (TRIT) Wins $7.02M Contract 0 comments
    Apr 23, 2012 2:54 PM | about stocks: TRIT

    Tri-Tech Holding recently announced that the company has been awarded multiple contracts with a total value of $7.02 million. Tri-Tech will provide flash flood warning systems and help implement small river hydrologic monitoring projects in five Chinese provinces.

    Tri-Tech designs sewage treatment and odor control systems for both Chinese and international markets, along with systems that track natural waterway levels for drought control, monitor groundwater quality, and assist the Chinese government in managing its water resources. The company is also in the early stages of entering the industrial pollution market.

    The $7.02M contract will see Tri-Tech providing flash flood monitoring and forecasting systems for the Heilongjiang, Fujian, and Guizhou provinces. The contract stipulates that the company will also implement small river hydrological monitoring systems for the Anhui and Shanxi provinces. Tri-Tech will either produce or obtain the equipment needed, as well as provide the installation and debugging of the resulting systems. The projects are scheduled for completion from the end of May through the end of July 2012.

    Mr. Warren Zhao, Joint CEO of Tri-Tech, said, "As continued government policy support and fund allocation to water conservancy demonstrate, China's water conservation industry is booming in 2012. As a leading solution provider in the industry, our company saw unprecedented growth in its flash flood early warning and small river systems business during the first quarter of 2012. By the time of this announcement, we have secured $16.5 million in flash flood early warning and small river hydrological monitoring system project contracts, already more than the total contract value we were awarded in all of 2011."

    Zhao continued, "As backlog from our water resources management business accumulated with growing sales, we focused on increasing the efficiency of the project implementation. As an update of the projects we were awarded for 20 countries and cities in Hunan, Henan, Hubei, Liaoning and Fujian from January to the mid of February in 2012: all major equipment for these projects has been delivered to project sites for installation and debugging. In order for the flash flood early warning and forecasting systems to function properly during the flood season, local governments are increasing and accelerating project bids. We anticipate our backlog from the business will continue to increase in the upcoming quarters as we seek to participate in new project bids."

    To learn more about the company, visit www.tri-tech.cn

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: TRIT
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