VANCOUVER, April 16, 2012 /CNW/ - Fireswirl Technologies Inc. (TSXV: FSW), "the Company", is pleased to announce that its subsidiary, Beijing Xingchang Xinda Technology Development Co., Ltd. ("XCXD"), has signed an agreement with A.O.Smith (China) Water Heater Co., Ltd. ("A.O. Smith China") to exclusively operate its e-commerce platform in China.
A.O. Smith is one of the world's leading manufacturers of residential and commercial water heating equipment, offering a comprehensive product line featuring the best-known brands in North America and China. The China Real Estate Association ranks it the No.1 water heater supplier for the top 500 land developers in China in 2012. Its namesake parent company is a global water technology company listed on the New York Stock Exchange.
Fireswirl is an established operator of an e-commerce platform with end-to-end service that helps international brands to operate their branded online stores, and to market and to sell their products in the fast growing market of China.
"A.O. Smith is a very reputable global brand in water technology," says Tony Lau, CEO of Fireswirl, "I believe it is a great business opportunity for Fireswirl, as demand for their exceptional product is proven in China, and e-commerce is one of the fastest growing sectors in China's economy."
Fireswirl Technologies Inc. (TSXV: FSW) is focused on creating transactional revenue by engineering electronic and mobile commerce solutions for content providers. The Company's technology has broad applications for solutions requiring multiple payment interfaces, multicurrency and multi-language capabilities. Our solutions can be adapted to any industry seeking high volume or micro-payment solutions involving a wide base of users through internet or wireless applications.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. This news release contains certain forward-looking statements that reflect the current views and/or expectations of Fireswirl Technologies Inc. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, general demand, competition and our ability to implement our business plans and strategies in a timely manner or at all. These risks, as well as others, could cause actual results and events to vary significantly. Fireswirl Technologies Inc. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.
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