VANCOUVER, April 19 /CNW/ - China Keli Electric Company Ltd. (TSXV: ZKL)
("China Keli" or the "Company") is pleased to announce it has signed a
sales agreement with Shanghai Zhenhua Heavy Industries Co. Ltd.
("ZPMC") for ZKL-manufactured resistors to be used for large harbour
cranes. ZPMC is a state-owned enterprise (SOE) and well-known heavy
equipment manufacturer listed on both Shanghai A and B Stock
Exchanges. ZMPC's major shareholder is China Communication
Construction Corp (CCCC) which is the largest construction company in
China and one of the world's biggest. The order is worth RMB 331,740
"The significance of this order is the launch of our resistor product
line with a marquee customer", said Lou Meng Cheong, China Keli's CEO,
"Although the dollar value is small, it's a great endorsement for a new
product, and we expect to see strong revenue growth from our resistor
line in the future".
China Keli is launching several new products to expand into markets
beyond its existing niche in the conventional power distribution
sector. These new products are targeted at Smart Grid, the heavy
transportation sector (rail and rapid transit), municipal
infrastructure (street lighting), and heavy machinery.
About China Keli Electric Company Ltd.
China Keli is a hi-tech company that develops, manufactures and installs
hi-voltage electrical components and equipment, including preassembled
mini-substations, electrical controllers, pressurized/vacuumed
switchgears and circuit breakers in the People's Republic of China.
China Keli's markets include electrical transmission and distribution
systems, Smart Grid, and the transportation sector (railways, subways,
street lighting, etc.)
ON BEHALF OF THE BOARD OF DIRECTORS Mr. Lou Meng Cheong CEO Phone:
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy of this release.
Legal Notice Regarding Forward Looking Statements: Certain statements in this news release are forward-looking statements,
which reflect the expectations of management regarding the Company's
ability to close the Offering. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future, and in this news release include: (i) we expect strong revenue
growth from our resister line in the future; and (ii) the Company is
launching several new products to expand into markets beyond its
existing niche in the conventional power distribution sector. Such
statements are subject to risks and uncertainties that may cause actual
results, performance or developments to differ materially from those
contained in the statements. No assurance can be given that any of the
events anticipated by the forward-looking statements will occur or, if
they do occur, what benefits the Company will obtain from them. These
forward-looking statements reflect management's current views and are
based on certain expectations, estimates and assumptions which may
prove to be incorrect, wholly or partially. A number of risks and
uncertainties could cause our actual results to differ materially from
those expressed or implied by the forward-looking statements,
including: (1) the inability to launch the Company's new products (2) a
downturn in general economic conditions in North America or
internationally, and (3) inability to gain market acceptance of the
Company's new products to achieve revenue growth. These forward-looking
statements are made as of the date of this news release and, except as
required by law, the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results
differed from those projected in the forward-looking statements.
Additional information about these and other assumptions, risks and
uncertainties are set out in the "Risks and Uncertainties" section in
the Company's MD&A filed with Canadian securities regulators.
SOURCE China Keli Electric Company Ltd.
For further information:
Scott Koyich, President
Brisco Capital Partners
EVP Finance and Corporate Development