VANCOUVER, June 21, 2011 /CNW/ - China Keli Electric Company Ltd.
(TSX-V: ZKL) ("China Keli" or the "Company") is pleased to announce it
has recently signed a sales agreement with the Xingren County Power
Supply Bureau of Guizhou Province. This contract worth RMB 1.38million
(~CAD$210,000) is for the supply of a complete high/low-voltage
switchgear. This switchgear is to be used as part of the Xingren
Bureau's power distribution works. This contract, from a new government
customer, is China Keli's first order for complete high/low-voltage
switchgear in the Guizhou market.
"This order marks another step forward in our expansion into new market
geographies," said Lou Meng Cheong, China Keli's CEO, "It also an
indication of the market's acceptance of our complete high/low voltage
"We recently targeted Guizhou Province and have been rewarded with some
initial orders," said Madame Wong, Chairperson of China Keli, "Power
distribution is still our core market sector and this is where we've
scored our early success in Guizhou. We expect this to lead to further
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
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) Xingren Power Bureau will
purchase a minimum of RMB 1.38 million of equipment from the Company,
(ii) the Company can expect any further orders in Guizhou Province.
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 or unwillingness of Xingren Power Bureau
to fulfill their obligations under the contract, or on the terms set
out above or at all, (2) a downturn in general economic conditions in
China or internationally, (3) inability to manufacture the products as
demanded by Xingren Power Bureau; and (4) fluctuation in the exchange
rate between Canadian dollar and Renminbi. 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