DALIAN, China, July 27 /PRNewswire-Asia/ -- China Industrial Waste
Management, Inc. (OTC Bulletin Board: CIWT) ("China Industrial Waste
Management" or the "Company"), a PRC-based industrial waste processor and
provider of environmental protection, pollution treatment and waste management
design services, announced today that its 90% owned subsidiary, Dalian Dongtai
Industrial Waste Treatment, Co., Ltd. was approached to lead the oil waste
management operation following China's largest recorded oil spill off the
coast of Dalian City. The Company was asked to handle oil waste generated by
the effort, including oil skimmed off the ocean surface and oil-saturated
equipment and refuse such as used absorption felts. It is still unclear how
many tons of waste will be generated.
The oil spill occurred during offloading of an oil tanker late on July 16,
2010, and polluted an area of sea covering 11 square kilometers by leaking
1,500 tons of oil into the sea. At one point, a dark-brown oil slick stretched
over at least 183 square kilometers of ocean near the hard-hit Xingang port,
with 50 square kilometers severely affected. Fires have now been completely
extinguished and the focus has shifted to the ocean clean-up and the
investigation into the blast. Conducted by Dalian local government, the
cleanup started July 17, 2010, one day after pipelines exploded near Dalian's
oil reserve base, one of China's largest.
The entire province is mobilized to prevent further ecological damage. As
soon as the incident occurred, Mr. Ruiguang Liu, the Company's Chief Engineer
and a 12-year veteran of Dalian Dongtai, was called upon to form a consulting
team with two other specialists to offer advice and technical support on the
clean-up.
"Our hearts go out to everyone affected by this tragedy," said Mr. Jinqing
Dong, the Company's Chief Executive Officer. "As members of the Dalian
community, our experienced personnel are absolutely committed to executing the
important tasks entrusted to us and doing our part to protect and restore the
environment. We are truly humbled that Dalian Dongtai has been approached to
lead the waste management of the spill. The most important thing now is to
clean up the area and ensure the piles of oil-smeared sand and pebbles and
oily absorption felts pulled out of the water are treated properly to avoid
secondary contamination."
About China Industrial Waste Management, Inc.
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.
("Dongtai") and other indirect subsidiaries. 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, 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 launch and successful operation of the
Dongtai Organic Waste Treatment Project, 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:
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.