TTCM China, Inc. (PINKSHEETS: TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes for water supply, sewer system and flood control, today announced the company is negotiating contracts in excess of $12.6 million with water resource companies in the city of GwangZhou in the Gwang-Dong Province, the richest province in China with a population in excess of 83 million, near Hong Kong. These latest negotiations come soon after the October 2006 announcement from the company that it booked its largest ever order of $12.9 million with the Liao Ning Water Reservoir and water supply company in the northeast of China. Pending what the company hopes will be a successful resolution to these latest negotiations, TTCM China expects to add to its backlog of orders that at the beginning of the year was in excess of $24.5 million, and has grown substantially in 2006.
The Company is advancing its business model, expanding into new regions, cultivating new relationships, and developing new markets for its products. In particular, TTCM China is aggressively pursuing opportunities in the southern and southeastern regions of China, where economic growth is on an even more rapid pace than in the rest of the country. In addition to the current negotiations with companies in GuangZhou, other negotiations are in progress with companies in the GwangXi province (with a population of 49 million) across from HaiNan Island, and in the FuJian Province (with a population of 35 million) across from Taiwan. The tremendous population pressures, exacerbated by sustained economic growth and industrialization, have strained the infrastructure of the country, and these conditions are even more pronounced in the southern and southeastern provinces.
Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, "This is a further indication of the strategy of the Company to move forward, expanding business in the southern and southeastern regions where the economic growth is even faster than the rest of the country. Once again it demonstrates clearly that there is growing demand for our high technology pipes in China, particularly to provide water to rapidly growing areas as well as the flood control systems. Because our pipes are more lightweight and cost efficient, they are suitable for large-scale projects such as those in the GwangXi, GwangDong and FuJian Provinces. We expect to see growing momentum in 2007 and into 2008 to meet the tremendous demand for clean water delivery and flood control systems in China."
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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, round containers, cooling towers and fans. In addition to its headquarters in Tianjin, the Company has marketing offices in Hebei and Sichuan. In cooperation with the Harbin Industry University, TTCM has 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 provincial and municipal government agencies and private companies concerning the provision of pipes for water supply 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 company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks associated with the operation in China where certain economic or political situations might adversely affect the outcome of the envisioned business.
TTCM China, Inc.
2680 Bayshore Pkwy, Suite 307
Mountain View, CA 94043
Tel: 650 960 3311
650 960 1155
Fax: 650 960 1133
Tel: 866 427 2196
Fax: 949 209 8699