JIANGSU, China, Dec. 13, 2010 (GLOBE NEWSWIRE) -- China Green Energy Industries, Inc., (OTCBB:CGRE),a leading manufacturer and distributor of high tech and environmentally friendly consumer products, today announced that it has been awarded an initial purchase order for network cables by one of the leading global IT distributors. The company estimates the value of the purchase order to be approximately $2.0 million over the next six months.
Jianliang Shi, Chairman and Chief Executive Officer commented, "We are very pleased to commence this relationship with a leading Fortune 100 IT distributor. This important agreement is further evidence of our high quality products, superior customer service and competitive pricing. We have established a very solid foundation through our network and HDMI cable businesses, which continue to grow at a rapid pace and generate strong free cash flow. As a result of these legacy businesses, we have established a world-class customer base and global distribution network, which we plan to leverage in order to expand sales of our environmentally friendly consumer products and, in particular, cryogen-free refrigerators and light-weight electric vehicles (LEV) in Europe and Asia."
About China Green Energy Industries
China Green Energy Industries is a leading manufacturer and distributor of high tech and environmentally-friendly consumer products. The company has three main product lines: light weight electric vehicles (LEV), cryogen-free refrigerators, and network/HDMI cables. It has well-established sales channels in China, with significant exports to Europe. China Green Energy Industries manufactures and distributes its own products under the brand name "Best," and also sells its product under private label to leading OEMs and Fortune 500 companies such as Wal-Mart, Carrefour, Home Depot, Ford, Pepsi, Coca-Cola, Carlsberg, Disney, etc. Additional information about the company is available at: www.chinagei.com.
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