BEIJING, May 11, 2012 /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 entered into an
agreement to provide a tire gantry to a Peruvian company.
The agreement is with Titan Peru S.A.C., an import/export
company in the construction industry, for a 50 ton Rubber Tire
Gantry. The equipment is used for transporting precast concrete
beams from the yard to the project site. The Company has
started production and received 30% of the contract price as an
advance payment. This is an initial contract with Titan Peru and we
expect to have future contracts to export other Wowjoint products
to Peru.
"We are pleased to have another new customer and to continue our
International expansion with our first sale into South America," Mr. Yabin Liu, Chief Executive Officer of Wowjoint
stated. "Our sales team has continued to focus on our expansion
into new markets and we're pleased to see the progress we've made
with the recent agreement with customers in Malaysia and now in Peru. Wowjoint has been successful in
developing a sales team and business network covering East Asia, Southeast
Asia, Europe, the
Middle East, North American and
South America. We are excited
about the opportunities we have in these new markets."
About Wowjoint Holdings Limited
Wowjoint 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, marine hoists and special purpose equipment. The
Company's innovative design capabilities have resulted in patent
grants and proprietary products. Wowjoint believes it 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
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Words such as
"expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking
statements. Forward-looking statements in this press release
include matters that involve known and unknown risks, uncertainties
and other factors that may cause actual results, levels of
activity, performance or achievements to differ materially from
results expressed or implied by this press release. Wowjoint
undertakes no obligation and does not intend to update these
forward-looking statements to reflect events or circumstances
occurring after the date of this communication. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this communication. All
forward-looking statements are qualified in their entirety by this
cautionary statement. All subsequent written and oral
forward-looking statements concerning Wowjoint or other matters and
attributable to Wowjoint or any person acting on their behalf are
expressly qualified in their entirety by the cautionary statements
above. Wowjoint does not undertake any obligation to update any
forward-looking statement, whether written or oral, relating to the
matters discussed in this news release.
For additional information contact:
Wowjoint Holdings:
Aubrye Foote, Vice President Investor Relations
Tel: +1-530-475-2793
Email: aubrye@wowjoint.com
Website: www.wowjoint.com
SOURCE Wowjoint Holdings Limited
