ZhongDe Waste Technology AG / Contract
11.03.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Press Release
ZhongDe Waste Technology AG signs contract for large scale waste
incinerator plant
- 1,000 tons/day waste incinerator plant with electricity generation for
Datong
- Contract value amounting to approx. 30 million
- Strategic milestone to expand into large-scale incineration market
Hamburg, March 11, 2008 ZhongDe Waste Technology AG [Ticker ZEF]
announced today that ZhongDe Group ('ZhongDe') has signed general contracts
for the Datong waste disposal and electricity generation project. Datong is
a city located in the northern Shanxi Province near to Inner Mongolia with
a population of approx. 3.1 million. The Datong project contracts comprise
designing, purchasing, manufacturing, construction and the commissioning of
a 1,000 tons/day waste incinerator plant with 30 MW electricity generation.
The total contract amounts to approx. 30 million. Project construction is
likely to start in April 2008. ZhongDe expects the project to be completed
by the end of 2009. The 'percentage of completion'-method is being used for
this major contract, which means that the Datong project will contribute to
2008 revenues and earnings. This is the first project where ZhongDe will
install complete sets of incineration plants with electricity generation on
a larger scale.
The Datong waste disposal and electricity generation project uses a
circulatory fluidized bed waste incinerator supplemented with less than 20%
coal. Three incineration lines with a daily treatment capacity of 500 tons
each will be installed, of which one line is for production standby. The
project treats an average of 1,000 tons of municipal waste daily with a
maximum daily capacity of 1,500 tons and an annual 7,600 hours of equipment
utilization. The total waste treatment volume of the entire plant is
316,600 tons per year, the annual maximum treatment capacity is 360,000
tons. Two sets of supporting 15 MW turbine generator units are to be
installed. The electric power generated by these units will be partly
utilized for the production of superheated steam used to drive the
air-cooling turbo-generator units with the remaining electric power
generated to be delivered to the urban power grid.
Zefeng Chen, founder and CEO of ZhongDe Waste Technology AG, comments:
'With the rapid development and progress achieved in technology since the
IPO, ZhongDe is now capable of not only manufacturing large scale
incinerators but also of building complete sets of incineration plants with
electricity generation. This is a milestone in the development of ZhongDes
technology and products. By signing these contracts we have successfully
started to implement ZhongDes key strategy of expanding into the
large-scale incineration market with the objective of strengthening its
market position in the segment of municipal waste disposal.'
About ZhongDe Group:
ZhongDe Group designs, manufactures and installs pyrolytic, grate and
rotary kiln waste incinerators for the disposal of solid medical, municipal
and industrial (including hazardous) waste. Since 1996, ZhongDe Group has
installed approximately 180 waste incinerators in about 13 provinces, and
more than 120 waste incinerators in the last three financial years alone.
Its waste incinerators are principally constructed for operators of medical
disposal centres in the hospital and healthcare industry, as well as for
small and midsized Chinese cities in developed areas of the Peoples
Republic of China. ZhongDe Group is one of the leading suppliers of small
and midsized solid waste incinerators in China, supplying state-of-the-art
products. The trading of the shares (German Securities Identification
Number ZDWT01, ISIN DE000ZDWT018 and ticker symbol ZEF) commenced on the
Prime Standard segment of the Frankfurt Stock Exchange on July 6, 2007.
This document constitutes neither an offer to sell nor a solicitation to
buy securities of ZhongDe Waste Technology AG. The securities have already
been sold.
This document is not an offer of securities for sale in the United States
of America. Securities may not be offered or sold in the United States of
America absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended. The shares in ZhongDe Waste
Technology AG have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and are not being and will not be
offered or sold in the United States of America.
This document is directed at and/or for distribution in the U.K. only to
(i) persons who have professional experience in matters relating to
investments falling within article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (ii)
high net worth entities falling within article 49(2)(a) to (d) of the Order
(all such persons being together referred to as 'relevant persons'). This
document is directed only at relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its
contents. Any investment or investment activity to which this document
relates is available only to relevant persons and will be engaged in only
with relevant persons.
Contact
Matthias Link
Managing Director
Citigate Dewe Rogerson GmbH
Goethestraße 26-28
60313 Frankfurt am Main
Tel: 0049-69 90 500-150
Fax: 0049-69 90 500-102
E-Mail: matthias.link@citigatedr.de
Internet: www.citigatedr.de
DGAP 11.03.2008
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Language: English
Issuer: ZhongDe Waste Technology AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 745
Fax: +49 40 37644 500
E-mail: cornelia.dieker@zhongdetech.de
Internet: www.zhongdetech.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: ZhongDe Waste Technology AG: ZhongDe Waste Technology AG signs contract for large scale waste incinerator plant
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