MOUNTAIN VIEW, Calif., May 5, 2005 (PRIMEZONE) -- TTCM China, Inc. (Pink Sheets:TTCH), a leading supplier of glass-reinforced plastic pipes, announced that its newly built Liao Ning Carbonization Power Plant, has turned on power production with initial capacity of 150 thousand tons. The plant will be fully operational by the end of the year with total capacity of 400 thousand tons.
"This is a significant move for TTCM into the energy market," said Mr. Wang, Chairman of TTCM. "This is just one of our vertical business expansion strategies, which directly complements our core business of pipeline product. This exciting announcement highlights just the beginning of our planned domestic and international expansion."
The power plant will initially contribute approximately $1.5 million in incremental revenues in 2005.
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Information and videos about the Company, its products and history may be found at http://www.ttcmchina.com.
About TTCM China
Founded in 1995, TTCM is a company involved in the production, processing and sales of glass-reinforced plastic pipes wrapped with sand inclusion and glass-reinforced plastic products. Its primary products include various types of regular and high-pressure pipes, fittings, round containers, cooling towers, and fans. The Company is also engaged in the development and production of new high-polymer synthetic material.
In 2004, TTCM supplied approximately 600km of sand-inclusion pipes respectively for a variety of water, sewage, and water management projects in China, representing over 30% of the total market share, ranking the Company first in its industry in China. TTCM has experienced double-digit growth consistently over the past several years and has recorded profitable annual revenues of approximately $10 million.
In 2005, TTCM anticipates strong domestic and international growth.
TTCM China's website address is http://www.ttcmchina.com.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.