TTCM China Announces Strategic Acquisition of IC-Based Smart Card Water-Meter Business
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TIANJIN, China--(Business Wire)--TTCM China, Inc. (Pink Sheets:TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes, today announced the acquisition of ShiJiaZhuang HuaTeng Technology Company who is engaged in the design and manufacturing of IC-based smart card water-meters as a strategic acquisition related to the water supply industry. The Company is expected to complete the audit and evaluation of the IC-based smart card water-meter company within this month. The acquired company has the annual production capacity of 300,000 units of such high-technology water-meters. Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, "TTCM is embarking on the strategic acquisition program and this is the first of such acquisition related to the Company's water supply business. We expect the growing demand for clean water delivery, flood control systems and water related business in China to continue to drive demand for our products in 2008 and beyond". About TTCM China, Inc. TTCM China, founded in 1995 and based in Tianjin China, is a leading producer of glass-reinforced composite plastic products including regular and high-pressure pipes, fittings related to the water supply and sewerage systems. In cooperation with the Harbin Industry University, TTCM developed an advanced technology employing micro-emulsification, which enables a reduction of the amount of resin used in the production process and at the same time raises the product compactness, strength and infiltration quality. These procedures make TTCM's glass-reinforced plastic pipes superior in strength to plastic pipes while they only weigh one-fourth the weight of regular steel pipes. The company is in negotiations with a several provincial and municipal government agencies and private companies concerning the requirements of pipes for water supply systems, sewerage systems and flood control systems. For more information, visit http://www.ttcmchina.com. Safe Harbor Forward-Looking Statements Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, force d majeure, customers' financial conditions, general market and economic conditions, competitive factors, the ability to successfully complete additional financings, shipping and other risks associated with the operation in China where certain governmental economic or political situation/polices might adversely affect outcome of the envisioned business. TTCM China, Inc. Won-Gil Choe, 650-960-1155 or 650-960-3311 Fax: 650-960-1133 Copyright Business Wire 2008
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