HONG KONG,Feb. 25,2025 -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) today announcedthat its majority-owned subsidiary,Yixing PACT Environmental TechnologyCompany Ltd. ("PACT")has recently been awarded two contracts worth approximately US$2.2 million in total. One project is to provide a turnkey industrial water treatment solution for a renowned UK pharmaceutical company to treat industrial wastewater from their inhalation aerosols manufacturing plant in Qingdao,China. The project is expected to be completed by June 2026.
In addition to the wastewater treatment contract,the company has also been awarded a Ballast Water Treatment port reception system contract. The purpose is to treat the ballast water at the port for a Chinese state-owned shipping and logistics company,which owns a harbor port on Hainan Island. This project is expected to be completed by June 2025.
These two contracts cover design,supply,fabrication,installation,and commissioning at the respective sites.
Certain statements in this news release regarding the Company's expectations,estimates,present view of circumstances or events,and statements containing words such as estimates,anticipates,intends,or expects,or words of similar import,constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements indicate uncertainty and the Company can give no assurance with regard to actual outcomes. Specific risk factors may include,without limitation,having the Company's offices and operations situated in Hong Kong and China,doing business in China,competing with Chinese manufactured products,competing with the Company's own suppliers,dependence on vendors,and lack of long term written agreements with suppliers and customers,development of new products,entering new markets,possible downturns in business conditions,increased competition,loss of significant customers,availability of qualified personnel,negotiating definitive agreements,new marketing efforts and the timely development of resources. See the "Risk Factor" discussions in the Company's filings with the Securities and Exchange Commission,including its Annual Report on Form 20-F for its fiscal year ended December 31,2023.
