Wowjoint Holdings Limited Signs $1.5 Million Leasing Contract For A 900-ton Special Launching Carrier
BEIJING, Sept. 12, 2011 /PRNewswire-Asia/ -- Wowjoint Holdings Limited ("Wowjoint," or the "Company") (Nasdaq: BWOW, BWOWU, BWOWW), China's innovative infrastructure solutions provider of customized heavy duty lifting and carrying machinery, today announced it has signed a new equipment leasing contract for a 900-ton special launching carrier.
The No. 2 Engineering Co., Ltd of China Railway 22nd Bureau Group signed a nine month leasing contract for approximately $1.5 million. The special launching carrier will be used in the high-speed railway project from Yanbian to Jilin City and is specifically designed to pass through tunnels and function in the mountainous areas. The special launching carrier is currently in the commissioning and installation process and will meet the short time delivery requirements requested.
"We're pleased to enter this contract with No. 2 Engineering Co. Ltd, of China Railway 22nd Bureau Group and expand on our existing relationship with them," Mr. Yabin Liu, Chief Executive Officer of Wowjoint stated. "They have been a long-time client of Wowjoint and have been impressed by Wowjoint's high level of service and technical ability. Our equipment has enabled all of our clients to have a faster construction time, reduce costs and the capability to build in difficult terrains. We believe our continued service levels; technical expertise and specialized equipment will enable us to further develop our existing client relationships and continue to gain new customers."
About Wowjoint Holdings LimitedWowjoint is a leading provider of customized heavy duty lifting and carrying machinery used in large scale infrastructure projects such as railway, highway and bridge construction. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers and marine hoists. The Company's innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint is well positioned to benefit directly from China's rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers. Information on Wowjoint's products and other relevant information are available on its website at http://www.wowjoint.com. Forward-Looking Statements
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