Xinde Technology Reports Additional Preliminary Supply Agreements Are in Place for Its Lower Cost Technically Advanced Diesel Engine Fuel Injection System
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WEIFANG, China - Xinde Technology Company (OTCBB: WTFS), which has developed China's first domestically produced diesel engine FIRCRI common rail electronically-controlled fuel injection system, today reported that domestic interest in its ground breaking new product continues to grow, as reflected in several preliminary supply agreements the Company has signed with diesel manufacturers throughout China.
The Company, a widely respected China-based designer and manufacturer of internal combustion engine and parts, particularly for China's $100 billion diesel engine and parts market, previously reported that after successful testing of its patented fuel injection system, it received a supply letter of intent for 200,000 sets of the product annually once production commenced from Weichai Power, Ltd., one of China's largest diesel engine manufacturers. It reported that similar agreements since have been forged with Jiangsu Jianghui Engine Co. Ltd. and Sichuan Emei Diesel Engine Co. Ltd., two large PRC diesel manufacturers. The Company said letters of intent for long term guaranteed fixed quantities now also have been signed with several other domestic diesel manufacturers and it anticipates the number of agreements will continue to grow.
Diesel Engines Must Meet Higher Emission Standards
"Fueling this strong interest," stated Mr. Dianjun Liu, President and Chief Executive Officer of the Company, "is the year end 2015 deadline that all diesel engines in China must meet for higher emission standards, initially the Euro III standard, and very likely the higher Euro IV/V standards in succeeding years."
"Our new electrically-controlled fuel injection system meets and exceeds the new Euro III standard, and can be upgraded to meet the higher standards anticipated in the future," Mr. Liu said. "Further, our cost for the new system is approximately 50% to 75% lower than the systems available from the foreign suppliers that have dominated China's domestic market to date," he added.
About Xinde Technology Company
Based in China's Shandong Province in the city of Weifang, Xinde Technology Company, with fiscal 2010 revenues of $123 million, competes in three primary product segments, namely (1) fuel injection system products, (2) diesel engine products and (3) generator products. The Company has a broad range of products including non-vehicle diesel engines, diesel generators, injection pumps, injectors and three-coupling components, agricultural machinery and construction machinery which greatly reduces its comprehensive costs which, in turn, increases its competitiveness. The Company's focus is on the domestic market in China, where its customers include several of China's largest companies in the country's most rapidly growing industries. As a consequence, the Company's production volume has been growing approximately 30% annually.
Contacts:
Dianjun Liu
President and CEO
ceo@chinaxinde.cn
Tel (Fax):86-536-8322068
SOURCE Xinde Technology Company
