China Valves Technology, Inc. Starts Trading Under New Ticker Symbol 'CVVZ'
August 13 2009 - 8:00AM
PR Newswire (US)
KAIFENG, China, Aug. 13 /PRNewswire-Asia-FirstCall/ -- China Valves
Technology, Inc. (OTC Bulletin Board: CVVZ; formerly OTC Bulletin
Board: CVVT) ("China Valves" or the "Company"), a leading metal
valve manufacturer with operations in the People's Republic of
China (the "PRC"), today announced that its stock will start
trading on the Over the Counter Bulletin Board under the new ticker
symbol "CVVZ" effective today August 13, 2009. Prior to today's
announcement, the Company traded under the ticker symbol "CVVT."
The change in ticker symbol is due to the previously announced
1-for-2 reverse split of the Company's common stock, and the stock
is expected to begin trading on a post- reverse split basis today.
As a result of the reverse split, the Company has approximately
31,393,701 shares issued and outstanding. About China Valves
Technology, Inc. China Valves Technology, Inc. through its
subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High
Pressure Valve Co., Ltd., and Tai Zhou Tai De Valve Co., Ltd. is
engaged in development, manufacture and sale of high- quality metal
valves for nuclear and thermal power electricity, petroleum,
chemical, water, gas and metallurgy industries. The Company has one
of the best known brand names in China's valve industry, and its
history can be traced back to 1959 when it was formed as a
state-owned enterprise. The Company develops valve products by
extensive research and development and owns a number of patents. It
enjoys significant domestic market shares and exports to Asia and
Europe. For more information, visit http://www.cvalve.com/ . Safe
Harbor Statements Any statements set forth above that are not
historical facts are forward- looking statements that involve risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Such
factors include, but are not limited to, the Company's ability to
develop and market new products, the ability of the Company to
obtain orders from other nuclear power companies, the ability of
the Company to improve its cash position, changes from anticipated
levels of sales, changes in national or regional economic and
competitive conditions, changes in relationships with customers,
changes in principal product profits and other factors detailed
from time to time in the Company's filings with the United States
Securities and Exchange Commission and other regulatory
authorities. The Company undertakes no obligation to update or
revise to the public any forward-looking statements, whether as a
result of new information, future events or otherwise. This press
release was developed by China Valves, and is intended solely for
informational purposes and is not to be construed as an offer or
solicitation of an offer to buy or sell the Company's stock. This
press release is based upon information available to the public, as
well as other information from sources which management believes to
be reliable, but it is not guaranteed by China Valves to be
accurate, nor does China Valves purport it to be complete. Opinions
expressed herein are those of management as of the date of
publication and are subject to change without notice. For more
information, please contact: China Valves Technology, Inc. Ray
Chen, VP of Investor Relations Tel: +1-650-281-8375 +86-13925279478
Email: Web: http://www.cvalve.com/ CCG Investor Relations Crocker
Coulson, President Tel: +1-646-213-1915 Email: Web:
http://www.ccgirasia.com/ DATASOURCE: China Valves Technology, Inc.
Web site: http://www.cvalve.com/ http://www.ccgirasia.com/
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