Sponsored Links
Jinpan International Announces Significant Order with Siemens
* Reuters is not responsible for the content in this press release.
ENGLEWOOD CLIFFS, N.J., Sept. 19 /PRNewswire-FirstCall/ -- Jinpan
International Ltd (Nasdaq: JST), a leading designer, manufacturer, and
marketer of cast resin transformers for voltage distribution equipment, today
announced that its U.S. sales office has secured a significant order for power
distribution transformers with Siemens Energy & Automation, Inc. The order
represents revenue potential of approximately $6.6 million and is deliverable
in 2009.
Mr. Zhiyuan Li, Chief Executive Officer of Jinpan, commented, "We are
delighted to have secured this sizeable order with Siemens and are pleased to
add another international blue chip industrial company to our growing customer
base. Demand for our highly reliable and efficient transformers continues to
grow as electricity power capacity increases in the U.S. and around the world.
In addition to the Seimens order, our sales of transformers and reactors for
wind power applications continue to grow as many governments around the world
continue to encourage increasing the use of alternative forms of energy. We
expect this trend to continue in 2009. Furthermore, we are also expanding our
offering of power distribution products for alternative energy applications.
We recently secured an order for power distribution transformers for nuclear
applications, which is deliverable in late 2008. Overall, we believe there is
a sizeable market opportunity for both traditional and alternative forms of
energy and we are positioning our business to meet the changing and
ever-growing needs of today's energy market," concluded Li.
About Jinpan International Ltd.
Jinpan International Ltd. (Nasdaq GS: JST) designs, manufactures, and markets
cast resin transformers for voltage distribution equipment in China and other
various countries around the world. Jinpan's cast resin transformers allow
high voltage transmissions of electricity to be distributed to various
locations in lower, more usable voltages. The Company has obtained ISO9001
and ISO1401 certifications of its cast resin transformers. Its principal
executive offices are located in Hainan, China and its U.S. headquarters is
based in Englewood Cliffs, New Jersey.
Forward Looking Statements "Safe Harbor" Statement under the Private
Securities Litigation Reform Act of 1995
This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's current
expectations and observations and involve known and unknown risks,
uncertainties or other factors not under the company's control, which may
cause actual results, performance or achievements of the company to be
materially different from the results, performance or other expectations
implied by these forward-looking statements. These factors include, but are
not limited to, the following:
-- our ability to successfully implement our business strategy;
-- the impact of existing and new competitors in the markets in which we
compete, including competitors that may offer less expensive products
and services, more desirable or innovative products or technological
substitutes, or have more extensive resources or better financing;
-- the effects of rapid technological changes and vigorous competition in
the markets in which we operate;
-- uncertainties about the future growth in electricity consumption and
infrastructure development in the markets in which we operate;
-- uncertainties about the degree of growth in the number of consumers in
the markets in which we operate using mobile personal communications
services and the growth in the population in those areas;
-- other factors or trends affecting the industry generally and our
financial condition in particular;
-- the effects of the higher degree of regulation in the markets in which
we operate;
-- general economic and political conditions in the countries in which we
operate or other countries which have an impact on our business
activities or investments;
-- the monetary and interest rate policies of the countries in which we
operate;
-- changes in competition and the pricing environments in the countries
in
which we operate;
-- exchange rates; and
-- other factors listed from time to time in the our filings with the
Securities and Exchange Commission, including, without limitation, our
Annual Report on Form 20-F for the period ended December 31, 2007 and
our subsequent reports on Form 6-K.
SOURCE Jinpan International Ltd.
Investors, Mark Du, Chief Financial Officer of Jinpan International Ltd.,
+1-201-227-0680; or Bill Zima of ICR, Inc., +1-203-682-8200
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters