This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China Valves Recognized As A National Corporate Technology Center

ZHENGZHOU, China, Nov. 23, 2011 /PRNewswire-Asia-FirstCall/ -- China Valves Technology, Inc. (NASDAQ: CVVT) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that Henan Tonghai Fluid Equipment Co., Ltd., China Valves' PRC holding company, has been recognized as a National Corporate Technology Center by an array of China's regulatory and government agencies. China Valves is the only company that has received this recognition in China's valve industry. Normally China Central Government entitles one single National Corporate Technology Center for one industry.

The selection process consisted of various factors such as a company's patents, its research & development ("R&D") team, its R&D investments, its R&D equipments and its tax-related legal compliance, its R&D co-operation with outside institutes and universities, among other factors. As a National Corporate Technology Center, China Valves is eligible to benefit from certain preferred policies from the Chinese government agencies that determined this recognition, which are the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation.

"This unique acknowledgement validates our leading position in China's valve industry, as our six subsidiaries, each with specific product applications, are all leaders in their respective target markets," said Mr. Jianbao Wang, Chief Executive Officer of China Valves. "Meanwhile, this recognition also represents our great efforts in R&D of high gross margin products in these years. With this platform we have more responsibility and duty to localize high end valves to help the construction of the key projects in China. In addition, we will also expect to receive more government support such as fund appropriation from central government, provincial government and municipal governments, tax benefits, possible preferred land use right and other subsidies. "

About China Valves Technology, Inc.

China Valves Technology, Inc. through its subsidiaries, Zhengzhou City ZD Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Taizhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., China Valve Technology ( Changsha) Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd., is engaged in the development, manufacture and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China's valve industry, and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products through extensive research and development and owns numerous patents. It enjoys a large domestic market share and also exports to Asia and Europe. For more information, visit http://www.cvalve.com

Safe Harbor Statement

Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors include, but are not limited to, the Company's ability to develop and market new products, the ability to access capital for expansion, the ability to acquire other companies, changes from anticipated levels of sales, changes in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release was developed by China Valves, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This news release is based upon information available to the public, as well as other information from sources that management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the date of publication and are subject to change without notice.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,064.06 +26.09 0.14%
S&P 500 2,110.50 +1.58 0.07%
NASDAQ 5,060.8230 +0.5770 0.01%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs