BEIJING, Feb. 18, 2015 /PRNewswire/ -- Recon
Technology, Ltd. (Nasdaq: RCON) ("Recon" or the "Company"), a
leading independent Chinese oilfield services provider to oil and
gas companies and their affiliates, today announced that it had
entered into a 5-year renewable
cooperation agreement with Aktobe Petroleum Machinery Co. Ltd.
("Aktobe Petroleum Machinery"), a joint venture between China
Petroleum Technology & Development Corporation (CPTDC) and
China National Petroleum Corporation (CNPC), with respect to the
construction of technical service center for pressure containers
such as heating furnaces and separators. Pursuant to this
agreement, Recon and Aktobe Petroleum Machinery will work together
to develop the marketing, sales, maintenance and related services
for pressure containers in Kazakhstan.
Mr. Gunagqiang Chen, CTO of Recon, who has over 30 years of experience in oil
and gas industry, stated, "Heating
furnaces and separators have been one of Recon's leading hardware
products for years. We've sold approximately 600 units of different
kinds of heating furnaces since our inception. High combustion
efficiency is one of our heating furnaces' major advantages. As our
products are well accepted by customers, we are very proud to
follow our clients to further expand our international market,
which is one of our major growth strategies.
"This is another important development in our overseas
operations after we won the contract to provide automation systems
hardware and various maintenance services in Turkmenistan." Mr. Chen continued: "We
discussed further developing our international market with the
investors in 2014. This agreement demonstrates that Recon is able
to steadily implement its growth strategy."
Mr. Chen also said, "According to this agreement, Recon will be
in charge of marketing, sales, maintenance, quality control and
after-sale services of heating furnaces and separators in
Kazakhstan. For many years, we
have focused on research and development and the improvement of our
products' functionality, and as such, our products have been well
accepted by our customers. Pursuant to this agreement, this
technical center will provide all heating furnace and some other
related parts of pressure container sales and services in
middle Asia. As such, we anticipate our heating
furnaces business will increase significantly in 2015."
About Recon
Recon Technology, Ltd. is China's first independent oil and gas field
service company listed on NASDAQ (RCON). Closely working with
leading global partners, Recon has achieved rapid growth supplying
China's largest oil and gas
exploration companies, including Sinopec and China National
Petroleum Corporation, with advanced automated technologies,
efficient gathering and transportation equipment and reservoir
stimulation measures. The solutions Recon provides are aimed at
increasing gas and petroleum extraction levels, reducing
impurities, improving safety and lowering production costs. For
additional information, please visit www.recon.cn.
Cautionary Statements
Statements made in this release with respect to Recon's current
plans, estimates, strategies and beliefs and other statements that
are not historical facts are forward-looking statements about the
future performance of Recon. Forward-looking statements include,
but are not limited to, those statements using words such as
"believe," "expect," "plans," "strategy," "prospects," "forecast,"
"estimate," "project," "anticipate," "aim," "intend," "seek,"
"may," "might," "could" or "should," and words of similar meaning
in connection with a discussion of future operations, financial
performance, events or conditions. From time to time,
forward-looking statements may also be included in other materials
released to the public. These statements are based on management's
assumptions, judgments and beliefs in light of the information
currently available to it. Recon cautions investors that a number
of important risks and uncertainties could cause actual results to
differ materially from those discussed in the forward-looking
statements, including but not limited to, product and service
demand and acceptance, changes in technology, economic conditions,
the impact of competition and pricing, government regulation, and
other risks contained in reports filed by the company with the
Securities and Exchange Commission. Therefore investors should not
place undue reliance on such forward-looking statements. Actual
results may differ significantly from those set forth in the
forward-looking statements.
All such forward-looking statements, whether written or oral,
and whether made by or on behalf of the company, are expressly
qualified by the cautionary statements and any other cautionary
statements which may accompany the forward-looking statements. In
addition, the company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after
the date hereof.
Contact
At the Company:
Recon Technology, Ltd.
Tel: +86-10-8494-5799
Email: info@recon.cn
Web: http://recon.investorroom.com
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SOURCE Recon Technology, Ltd.