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BEIJING, China, April 22 /PRNewswire-Asia-FirstCall/ -- Recon Technology, Ltd.
The order, valued at RMB 5,276,000 (approximately $772,000 USD), is for 10 SAACKE heavy oil burner management systems and includes installation and initial start-up and trial runs of the systems as well as ongoing maintenance under a two-year agreement. Recon expects to make delivery by July 2010.
Recon Technology CEO Shenping Yin said, "We continue to strengthen our role as essential technology providers to China's leading oil and oil industry companies. This order from China Petroleum Pipeline Machinery Manufacturing Co. Ltd. demonstrates our competitive position in China's petroleum services industry. We are working with world-class technology and services providers, such as German-based SAACKE, to increase the efficiency and profitability of China's petroleum companies."
SAACKE is a leading German burner management system provider. Demands on modern firing technology in the petroleum industry are complex, including drastically intensified requirements for protecting the environment and conserving resources as well as providing maximum flexibility in implementing cost-saving fuels and optimizing systems and components to deal with the growing dynamics of global competition. Over 100,000 firing plants and more than 5,000 marine units produced by SAACKE are in use worldwide.
About China National Petroleum Corporation (CNPC)
CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction. With a presence in almost 70 countries, CNPC is an integrated international energy company, with businesses covering oil and gas operations, technical services, engineering and construction, equipment manufacturing, financial services and renewable energy development. The company is listed on The Stock Exchange of Hong Kong (SEHK) (http://www.hkex.com.hk/index.htm ) under code "0135". For additional information about CNPC, please visit the company's website at http://www.cnpc.com.cn/en/ .
About Recon Technology, Ltd.
Recon Technology, Ltd. has been providing leading Chinese oil and gas companies with automation services that increase efficiency and profitability in exploring, extracting, producing, processing, refining and transporting petroleum products for over 10 years. The company's proprietary computerized process control system manages oil production in real-time to increase extraction levels, reduce impurities in extracted petroleum and lower production costs. In addition, Recon's acoustic pipeline monitoring system is widely used to prevent gas leakage in the transport pipeline. Recon's technology is based on three software copyrights, eight product patents and four pending patents. Recon Technology is the first Chinese non-state-owned oil and gas service company listed in the U.S. NASDAQ capital market. More information may be found at http://www.recon.cn/ or e-mail:
Recon's online investor kit, including an investment profile, press releases, current price quotes, stock charts and more is available at http://www.hawkassociates.com/profile/rcon.cfm . To receive notification of future releases via e-mail, subscribe at http://www.hawkassociates.com/about/alert/ .
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports field by the company with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact: Investor Contact: Hawk Associates Julie Marshall Susan Zhou Phone: +1-305-451-1888 Email:
SOURCE: Recon Technology, Ltd.
CONTACT: Julie Marshall and Susan Zhou, both of Hawk Associates, +1-305-