BEIJING, May 14, 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 held a ground breaking
ceremony for its new manufacturing and R&D facility in
Zhenjiang City New District. Wowjoint's CEO, Yabin Liu, gave a speech at the event.
Wowjoint's newly established subsidiary, Zhenjiang Wowjoint
Heavy-duty Machinery Co. Ltd. ("Zhenjiang Wowjoint"), will be
operating this facility.
The new manufacturing facility under Zhenjiang Wowjoint will
cover 200,000 square meters of land, including 14,000 square meters
of production workshop, 7,000 square meters of office space and a
shipping field and testing grounds. Construction will be
implemented in two phases. Phase one is estimated to be completed
within six months. The new manufacturing facility will be focused
on producing and providing maintenance services for Wowjoint's
launching gantries, lifting equipment, railway transportation
equipment and railway testing equipment.
The new R&D center to be housed in this facility was
established by Wowjoint in conjunction with Beijing Jiaotong
University's Yangtze River Delta R&D Transportation Institute.
The R&D center will concentrate on working with the new
manufacturing facility to supply enhanced equipment and services to
Wowjoint's customers. It will specifically focus on special
projects for rail transportation and logistics, as well as projects
in Southern China and the
international markets.
"We're excited to have broken ground our new manufacturing base
and new R&D center in Zhenjiang," stated Mr. Yabin Liu, Chief Executive Officer of Wowjoint.
"The facilities are located in an economically developed area of
the Yangtze River Delta, which is a strategic benefit to or
business. We also believe that its proximity to Shanghai provides additional resources to
capitalize on our international expansion plans."
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
