VANCOUVER, May 24, 2011 /CNW/ - China Keli Electric Company Ltd. (TSX-V:
ZKL) ("China Keli" or the "Company") is pleased to announce it has won
a sales order from Ruiwei Enviroment Production Renewable Energy Co.,
Ltd. Ruiwei is buying high/low-voltage switchgear from China Keli with
a total value of RMB1.8million (~CAD$265,000). The equipment will be
used for a waste incineration power project in Lishui City, Zhejiang
Province. This project has a double benefit of solving a serious
municipal domestic waste disposal problem and generating electric power
from the disposal process.
"This order again shows how we are rapidly expanding our product sales
outside our traditional power distribution sector and into new
markets," said Lou Meng Cheong, China Keli's CEO, "Increasingly our
products are finding their way into green and cleantech industrial
"This year seems to be a turning point for China Keli in our penetration
into environmental application areas", said Madame Wong, Chairperson of
China Keli, "We developed a clear strategy for China Keli to enter the
"green" sector, and we're seeing real acceptance of our products in
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, transportation (railways, subways, street
lighting, etc.), and the "Cleantech" sector (renewable energy, solid
waste processing, waste water, etc).
ON BEHALF OF THE BOARD OF DIRECTORS
Mr. Lou Meng Cheong
Phone: (403) 389-3488
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 Contract. 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) Ruiwei will complete its
purchase of RMB1.8M of switchgear; (ii) the Company's products are
finding their way into the green and cleantech industrial application.
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 Ruiwei 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 North America
or internationally, (3) inability to manufacture the products as
demanded by Ruiwei; 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