Well hello; this certainly deserves a leg down:
SHENZHEN, China, Aug. 13 /PRNewswire-Asia-FirstCall/ -- China Ritar Power Corp. (Nasdaq: CRTP - News; the "Company" or "China Ritar"), a leading Chinese manufacturer of lead acid batteries, today announced that the Company has received an order worth approximately $4 million for its nano gel lead acid batteries to be used in a new subway system in Shenyang, Liaoning.
The Chinese government's US$586 billion economic stimulus package launched at the end of 2008 has begun to work its way through the economy. With a significant portion of the stimulus package targeted for accelerating the expansion of railways, including building a larger number of dedicated passenger rail links and more subway lines, cities throughout China have started to build or expand their subway systems. Currently, there are over 20 cities throughout China that are in the process of constructing new subway systems and around 250 Chinese cities that are planning to build new subway lines by 2015.
"The new order for our nano gel lead acid batteries is extremely significant in that it opens up an important market opportunity for China Ritar. Our unique battery technology combined with our strong brand reputation for reliability and high quality contributed to winning this important contract," commented Mr. Jiada Hu, China Ritar's Chairman and CEO. "As the Chinese government is speeding up infrastructure projects in an effort to stimulate the Chinese economy, we expect to increase our market penetration in the railway and municipal subway market over the next several years."
About China Ritar
China Ritar designs, develops, manufactures and markets environmentally friendly lead acid batteries with a wide range of capacities and applications, including telecommunications, Uninterrupted Power Source (UPS) devices, Light Electrical Vehicles (LEV), and alternative energy production (solar and wind power). China Ritar sells, markets and services six series and 197 models of Ritar-branded, cadmium-free valve-regulated lead-acid (VRLA) batteries. Products are sold worldwide with sales in 81 countries including China, India, and numerous markets in Europe and the Americas. Additional information can be found at the Company's website ritarpower.com .
You gotta laugh.
lazarre |
