Sep 6 2010
Shengkai Innovations, Inc. (Nasdaq: VALV; "Shengkai Innovations" or the "Company"), a leading ceramic valve manufacturer in the People's Republic of China (the "PRC"), today announced that it recently attended a key coal-chemical exhibition in China.
The "2010 China International Exhibition on Coal Processing & Utilization and Coal Chemicals" took place in late August 2010 with over 100 exhibitors to showcase their most recent coal chemical technologies and equipment, among which there are multinational companies such as Shell, Total, GE, Dow Chemical and Davy. At this event, Shengkai Innovations presented a series of products with strong resistance to chemical erosion, high temperature and intense attrition, and long product life span. Currently, metal valves are widely used in most Chinese domestic coal-chemical companies for use in pipes to transport coal-derived particles and powders. Metal valves typically feature a shorter life span and are substantially less cost-effective than their ceramic counterparts.
Mr. Chen Wang, Chairman and Chief Executive Officer of Shengkai Innovations, commented, "We are making strides into another important market where quality standards are rising and demand is growing. The Coal-chemical market in China is experiencing rapid growth, as China is not only the world's largest coal consumer, but also one of the most active coal and coal byproduct producers. Taking advantage of ceramic's anti-chemical-erosion feature, we see that the potential of our ceramic products in coal chemical industry in China is just as great as in petrochemical industry. Unlike the ceramic valves used in the petrochemical industry, where liquid and gas are in direct contact with the valves, our coal-chemical ceramic valves are specifically designed for solid state particles and powders, which normally cause high abrasion in traditional metal valves. We are also excited that our new marketing efforts to pursue the coal-chemical market segment have begun to pay off as we have recently signed our first contract for ceramic valves with a coal-chemical engineering company in China."
Source: http://www.shengkaiinnovations.com/