HARBIN, China, Aug. 26, 2011 /PRNewswire-Asia-FirstCall/ --
Harbin Electric, Inc. ("Harbin Electric" or the "Company") (NASDAQ:
HRBN) today stated that, contrary to rumors that have been
circulating in the markets, the Company never modified any of its
documents filed in China with the
SAIC and that no members of its management or of its Board of
Directors have resigned or advised the Company of any intent to
resign.
This press release is not a proxy statement or a solicitation of
proxies from the holders of common stock of the Company. Any
solicitation of proxies will be made only by the proxy statement
that will be provided to the Company's stockholders. Investors and
security holders of the Company are urged to read the proxy
material because it contains important information about the
Company and the proposed going private transaction.
About Harbin Electric, Inc.
Harbin Electric, headquartered in Harbin, China, is a leading developer and
manufacturer of a wide array of electric motors with a focus on
innovative, customized, and value-added products. Its major product
lines include industrial rotary motors, linear motors, and
specialty micro-motors. The Company's products are purchased by a
broad range of domestic and international customers, including
those involved in the energy industry, factory automation, food
processing, packaging, transportation, automobile, medical devices,
machinery and tool manufacturing, chemical, petrochemical, as well
as in the metallurgical and mining industries. The Company operates
four manufacturing facilities in China located in Xi'an, Weihai, Harbin, and Shanghai.
Harbin Electric has built a strong research and development
capability by recruiting talent worldwide and through collaboration
with top scientific institutions. The Company owns numerous patents
in China and has developed
award-winning products for its customers. Relying on its own
proprietary technology, the Company developed an energy efficient
linear motor driven oil pump, the first of its kind in the world,
for the largest oil field in China. Its self-developed linear motor
propulsion system is powering China's first domestically-made
linear-motor-driven metro train. As China continues to grow its industrial base,
Harbin Electric aspires to be a leader in the industrialization and
technology transformation of the Chinese manufacturing sector. To
learn more about Harbin Electric, visit www.harbinelectric.com.
For investor and media inquiries, please contact:
Christy Shue
Harbin Electric, Inc.
Executive VP, Finance & Investor Relations
Tel: +1-631-312-8612
Email: IR@HarbinElectric.com
Linda Bergkamp
Christensen Investor Relations
Tel: +1-480-614-3004
Email: lbergkamp@christensenir.com
SOURCE Harbin Electric, Inc.