01 July 2005
01 July 2005
TTCM China, Inc., China's largest supplier of glass-reinforced plastic pipe, finalised 3 new contracts totalling $4.73-million in revenues.
TTCH won water pipeline contracts with (1) Fujian Province Fangleyuan Pipeline Construction, $2.4-million, for high-pressure pipelines for the Fangleyuan project, (2) Jilin Province YiTong Pipeline Project, $1.2-million, for pipelines to the project, and (3) Heilongjiang Province Forestry Administration, $1.13-million, for over 62 kilometers of water pipelines.
In 2004, TTCM supplied about 600km of sand-inclusion pipes for a variety of water, sewage, and water management projects in China, ranking the Company first in its industry in the nation.
30% of China's water pipeline business already belongs to TTCH, as the firm prepares to move aggressively into the international market, including the United States, which has almost as severe a water supply problem as China.
""The Fujian contract once again validates our advanced, proprietary technology,"" said Jiqun Wang, Chairman and President of TTCM China. ""Leading the market allows us to maintain our existing revenue streams while we expand both domestically and internationally with our new products.
""TTCM has consistently grown its existing client revenues, achieving double-digit growth over the last several years with profitable annual revenues of over $10 million,"" said Wang. ""New customer projects such as the YiTong Pipeline Project will be incremental to profits in 2005.""
""Selection of TTCM by Heilongjiang Province Forestry Administration, where reliable water supply is critical to preserve and develop is another verification of TTCM's high-tech product as well as the value of our turnkey solutions,"" said Wang.
Founded in 1995, TTCM's core business is the production, processing and sales of glass- reinforced plastic pipes wrapped with sand inclusion and glass-reinforced plastic products, including regular and high-pressure pipes, fittings, round containers, cooling towers, and fans. TTCM is also engaged in the development and production of new high polymer synthetic material.
On the international market, TTCM has established business relationships with buyers in Singapore, Kuwait, Iraq, Afghanistan, and South Africa, developing valuable technical exchanges and opportunities for TTCM to expand internationally.