DALIAN, China, Aug. 30 /PRNewswire-Asia-FirstCall/ -- China Industrial
Waste Management, Inc. (OTC Bulletin Board: CIWT) ("China Industrial Waste
Management" or the "Company"), a leading environmental services and solutions
provider in China, today announced that the Company's 90%-owned subsidiary,
Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dalian Dongtai"), signed
a waste management cooperation contract (the "Contract") with Dalian Onoda
Cement Co., Ltd. ("Dalian Onoda") to process industrial waste utilizing Dalian
Onoda's cement kiln. Dalian Onoda Cement Co., Ltd is a cement production
venture owned by Taiheiyo Cement Co., Ltd (a leading multinational cement
producer in Japan).
Dalian Dongtai signed a Letter of Intent with the Dalian Onoda on November
8, 2009, and, since that time, the two firms have processed 3,000 tons of
solid waste in a trial run. As an additional element of the Contract, a
research team will be formed by the two companies to develop new waste
management methods and technologies based on lessons learned from the
collaboration.
The treatment of solid waste by means of cement kilns is a goal of waste
management professionals around the world and represents a growing trend. An
important advantage of this approach is the combination of environmental
benefits and resource utilization. Countries with developed waste management
infrastructures, such as Japan, Sweden and the United States, reduce coal
usage by millions of tons per year by employing cement kiln techniques. In
this process, certain organic waste products are used as fuel in the
production of cement, which otherwise would consume significant quantities of
fossil fuels-typically coal. Moreover, some inorganic wastes, such as casting
sand, are used as raw materials for the cement. Candidate waste materials
include a wide variety of items, such as waste tires and waste plastics, along
with hazardous wastes such as solvents and oils.
"We are excited to announce this collaboration with Dalian Onoda and the
addition of another important waste treatment method to our business that
substantially boosts our industrial waste processing capacity," said Mr. Jason
Dong, Chief Executive Officer. "Given the massive scale of China's cement
industry, we feel the development of cement kiln waste processing has
significant potential, and the environmental benefits should also be
considerable. The current hazardous waste management capacity of the
facilities operated by Dalian Dongtai is 56,000 tons per year. Through our
cooperation with Dalian Onoda, we believe Dalian Dongtai will be able to
increase its current hazardous waste management capacity by 36% or 20,000 tons
per year immediately and by 125% to 143% or 70,000 to 80,000 tons per year
within the next five years."
About Dalian Onoda Cement Co., Ltd.
Dalian Onoda is a cement production plant which was established by
Taiheiyo Cement Co., Ltd. (a leading multinational cement producer in Japan).
Dalian Onoda was designated as a trial plant as the result of a cooperation
agreement between the governments of Norway and China. The Dalian Onoda
cement plant has mature and advanced production technology and facilities that
utilize industrial waste as a raw material for cement.
About China Industrial Waste Management
China Industrial Waste Management, Inc. is engaged in the collection,
treatment, disposal and recycling of industrial wastes principally in Dalian
and surrounding areas in Liaoning Province, People's Republic of China through
its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd.
("Dalian Dongtai") and other indirect subsidiaries. Dalian Dongtai treats,
disposes of and/or recycles many types of industrial wastes, and recycled
waste products used by customers as raw material to produce chemical and
metallurgy products. In addition, Dalian Dongtai treats or disposes of
industrial waste through incineration, burial or water treatment, and provides
environmental protection services, technology consultation, pollution
treatment services, waste management design processing services, waste
disposal solutions, waste transportation services, onsite waste management
services, and environmental pollution remediation services. For more
information, please visit the Company's website ( http://www.chinaciwt.com ).
Cautionary Statement Regarding Forward-Looking Information
This release may include "forward-looking statements." You can identify
these statements by the fact that they do not relate strictly to historical or
current facts. These statements contain such words as "may," "project,"
"might," "expect," "believe," "anticipate," "intend," "could," "would,"
"estimate," or the negative or other variations thereof or comparable
terminology. These forward-looking statements are based on current
expectations and projections about future events. Investors are cautioned that
forward-looking statements are not guarantees of future performance or results
and involve risks and uncertainties that cannot be predicted or quantified and,
consequently, our actual performance may differ materially from those
expressed or implied by such forward-looking statements. Such risks and
uncertainties include, but are not limited to, the following factors, as well
as other factors described from time to time in our reports filed with the
Securities and Exchange Commission: the timing and magnitude of technological
advances; the prospects for future acquisitions; the effects of political,
economic and social uncertainties regarding the governmental, economic and
political circumstances in the People's Republic of China, the possibility
that a current customer could be acquired or otherwise be affected by a future
event that would diminish their waste management requirements; the competition
in the waste management industry and the impact of such competition on pricing,
revenues and margins; uncertainties surrounding budget reductions or changes
in funding priorities of existing government programs and the cost of
attracting and retaining highly skilled personnel; our projected sales,
profitability, and cash flows; our growth strategies; anticipated trends in
our industries; our future financing plans; and our anticipated needs for
working capital. Forward-looking statements speak only as of the date on which
they are made, and, except to the extent required by federal securities laws,
we undertake no obligation to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is made or to
reflect the occurrence of unanticipated events.
For more information, please contact:
Company Contact:
Mr. Darcy Zhang, Director of Investor Relations
Tel: +86-411-8259-5339
Email: darcy.zhang@chinaciwt.com
Web: http://www.chinaciwt.com
CCG Investor Relations:
Mr. Athan Dounis, Account Manager
Tel: +1-646-213-1916
Email: athan.dounis@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China Industrial Waste Management, Inc.