Thursday , March 17, 2005 10:17 ET
Mountain View, CA, Mar 17, 2005 (M2 PRESSWIRE via COMTEX) --TTCM China, Inc. (Pink Sheet: TTCH) announced that it has acquired Tianjin Tianlian Composite Material Company, Ltd. (collectively TTCM), Chinas leading supplier of glass-reinforced plastic piping and associated products.
Founded in 1995, TTCMs core business is the production, processing and sales of glass- reinforced plastic pipes wrapped with sand inclusion and glass-reinforced plastic products. Its primary products include various types of regular and high-pressure pipes, fittings, round containers, cooling towers, and fans. The Company is also engaged in the development and production of new high polymer synthetic material.
In 2004, TTCM has supplied approximately 600km of qualified sand-inclusion pipes respectively for the following projects:
* Xinjiang Kurle Diversion Works, sewage treatment works in the north of Shenyang City
* Songhua Dam Diversion Works of Kunming City
* Tianjin Water Supply Works
* TEDA Drainage Works
* Huangdao Development Areas Diversion Works of Qingdao City
* Xian City Moat Drainage Works,
* Kunming Dianchi Lakes Sewage Cutoff Drainage Works
* Chengdu Funan River Sewage Treatment Works
* Zibo City Water Supply Works
* Yantai City Water Supply Works
* Tibet Changdu Sewage Treatment Works.
TTCM delivered over 30% of the total market share, ranking it first in its industry in China in 2004.
On the international market, TTCM has established business relationships with buyers in Singapore, Kuwait, Iraq, Afghanistan, and South Africa, developing valuable technical exchanges and opportunities for TTCM to expand internationally.
"Broadening our international business will prove invaluable as we begin to penetrate the US market", said Mr. Jiqun Wang, Chairman and President of TTCM. "We are very excited about this opportunity which allows TTCM to grow more rapidly and become a true international corporation."
TTCM has enjoyed double-digits growth consistently over the past several years and recorded annual revenues of over $10 million on an unaudited basis.
TTCM anticipates strong growth in 2005 via selective acquisitions and international growth.
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 companies' 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.
CONTACT: For more information about TTCM, contact: Corporate Investor Relations Tel: +1 310 664 1951 e-mail: TTCH@CorpIR.com TTCM China, Inc. Tel: +1 650 960 3311/1155 Fax: +1 650 960 1133
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