China Energy Recovery
China Energy Recovery is an international leader in designing, manufacturing and installing waste heat energy recovery systems which provide facilities with greater energy efficiency. The company's primary focus is on the Chinese market.
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China Energy Recovery agrees major terms for site of new manufacturing plant
Waste heat recovery specialist, China Energy Recovery, Inc. reported that it completed another step in its strategic ambition to expand production capacity. CER has reached the major terms for the building site of its new manufacturing plant, which is located in an industrial park in Yangzhou City, Jiangsu Province that is along the Yangtze River and close to Shanghai.
The new plant will be a state-of-the-art facility for developing and manufacturing large-sized and sophisticated waste heat recovery systems and other related energy efficiency equipment.
The new plant will have its own railroad access connected to the main railway system of China directly extended into its workshop, which will significantly improve transport and delivery convenience, both of which are crucial in customers' decisions for large-to-mega sized systems, the company stated. "All these attributes of the facility are expected to significantly enhance CER's competitiveness in today's markets, where the trend is towards larger-sized systems."
The initial phase of the plant is expected to be complete in late 2010.
The development will benefit from a US$2.2 million grant provided by the local government.
"With an aim to facilitate CER's future expansion, primarily for export sales, the local government will also give CER an option on another tract of land that is on the banks of the Yangtze River at a currently determined price. Land with direct access to the Yangtze River is a singularly unique resource in China, even scarcer than railroad access. Such navigable waterway access is expected to make transportation for export orders much easier, thus significantly facilitating export sales and further making CER an efficient global provider of energy recovery systems. The terms of the purchase option are expected to offer CER flexibility in the management of its growth in phases."
"We are excited about the strong support for our business and expansion plans from the local government. It is a clear reflection of the Chinese government's determination to promote and support the projects and businesses that facilitate energy efficiency and emission reduction with concrete measures based on the nation's long-term guidelines," commented Mr. Qinghuan Wu, Chairman and CEO of China Energy Recovery. "With the increasing market demands and the government's driving force, the new plant, once completed, will lay a solid foundation for our future continued, accelerated growth and for our goal of becoming a world leader in the energy recovery field."
Other China Energy Recovery news
- China Energy Recovery completes US$1.42m contract for Hubei Yangfeng Group
2009-10-14 - China Energy Recovery names Estelle Lau independent director
2009-10-07 - China Energy Recovery wins heat receovery system contract from Hubei Sanning
2009-09-24 - China Energy Recovery wins US$4.47m sulfuric acid plant order in Tianjin
2009-09-09 - China Energy Recovery files new heat recovery patent
2009-08-19
