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 announces record backlog orders for 2009
China Energy Recovery Inc (OTCBB: CGYV) said it has record backlog orders of approximately US$32.7 million for 2009 based on the current exchange rate, an 86 percent increase compared to the backlog at the same time in 2008. These orders are expected to be completed in the next 12 months with the majority to be completed by the end of 2009.
"We're very pleased to achieve this milestone in such a challenging economy both in China and globally," commented Qinghuan Wu, chairman and CEO of China Energy Recovery. "It is encouraging to see that industrial firms are becoming more proactive to include energy recovery systems in their plans for new facility construction or retrofit projects of existing ones.“
“Our strong backlog orders provide us good visibility for our performance in the next 12 months, especially for the second half of that period. Our pipeline has also been expanding which is expected to further enhance our performance for the whole year of 2009 and beyond," he added.
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 agrees major terms for site of new manufacturing plant
2009-08-27
