Wowjoint Holdings Limited Enters New Line Of Business With Its Specialized Equipment
BEIJING, Oct. 3, 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 entered into a new line of business in China, by developing equipment to perform the maintenance and repair of China's ever expanding railway system.
Wowjoint has been awarded the contract by China's Ministry of Railway to build the first ever equipment for inspection of the overhead concrete beams of the elevated pave way of China's high-speed railway. The Ministry of Railway recognized Wowjoint's maintenance and repair machine as the only authorized machine for its intended use on the high-speed railway. The Company owns numerous patents regarding the design and manufacturing of this equipment. This specialized equipment is expected to have an average sales price of approximately $1 million.
As a key member in the partnership of academic research and industrial application among academic research institutions and enterprises, Wowjoint developed this specialized equipment in connection with China Railway Engineering Consulting Group Co., Ltd., China Academy of Railway Sciences, Beijing Jiaotong University and Beijing Railway Bureau. China's Ministry of Railway specifically promoted this partnership to develop the equipment to inspect the overhead concrete beams of the elevated pave way that is used in China's high-speed railway system without occupying the rail track or disturbing the operational time of the track. The equipment is to be built to solve the existing safety issues associated with the inspection and maintenance of the overhead concrete bridges, to ensure the reliability and durability of the concrete structures of the pave way.Wowjoint will manufacture one set of the model equipment that it will provide to the Ministry of Railway. The research will make Wowjoint the manufacturer of the world's first equipment ever used for the inspection and maintenance of overhead concrete bridge of high-speed railway. Wowjoint will participate in establishing the inspection methods, including modes and contents, and the corresponding technical and operational conditions.
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