BEIJING, July 22, 2011 /PRNewswire-Asia-FirstCall/ --
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 contract for a marine hoist.
Shenzhen Land Investment & Development Center, a government
control center, signed a contract with Wowjoint for approximately
$400,000 to purchase a 50 ton marine
hoist. The marine hoist will be used as a yacht hoist in the 2011
Shezhen Universiade. This represents the second industry that
Wowjoint has been able to penetrate with its customized marine
hoist and is a large market that can lead to future sales.
"This contract with Shenzhen Land Investment & Development
Center represents a substantial opportunity for Wowjoint and we are
extremely pleased about our entry into this market," Mr.
Yabin Liu, Chief Executive Officer
of Wowjoint stated. "In February
2011, we entered the yacht industry with the sale of our
marine hoist to Sunbird Yacht Company. Entering an additional
market with our marine hoist demonstrates our focus on diversifying
our revenue streams as well as our ability to utilize our core
competency of engineering high quality machines that provide a
value to our customers. We believe we will be able capitalize on
our entry into this market as well as penetrating the yacht and
wind power industries that we entered earlier this year."
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 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
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 Harris-Foote, Vice President Investor Relations
Tel: +1-530-475-2793
Email: aubrye@wowjoint.com
Website: www.wowjoint.com
SOURCE Wowjoint Holdings Limited