ZK International Announces $2.75 US Million in Contracts with Huawei Technologies and China Railway Construction Engineering Group
WENZHOU, CHINA, Dec. 06, 2017 (GLOBE NEWSWIRE) -- ZK International Group Co., Ltd. (NASDAQ: ZKIN) (“ZKIN” or the “Company”), a designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products for projects that require sophisticated water or gas pipeline systems, is pleased to announce the signing of multiple initial pipeline infrastructure contracts supplying Huawei Technologies Co. Ltd. (“Huawei”), a leading global information and communication technology solutions provider, and China Railway Construction Engineering Group (“CRCEG”), one of the largest construction and engineering companies in China, for approximately $2.75 Million USD (¥ 4.9 Million RMB).
CRCEG has been engaged by Huawei to assist in the construction of Phase I of its Research Lab. Through its long-standing relationship and Qualified Pipeline Supplier designation with Huawei, CRCEG has sub-contracted ZK International to supply the piping infrastructure for this project. Preceding this contract, in October 2017, ZKIN signed a $2 Million USD contract with Huawei to provide proprietary piping material as well as technical support for apartments, office buildings and other facilities associated with build out of the ‘Songshan Campus Employee Apartment Project’ and ‘Suzhou Campus Project’.
Mr. Jiancong Huang, ZK International's Chief Executive Officer, stated, “We are proud to have a close working relationship with Huawei, one of the largest telecommunications equipment manufacturers in the world, as a Qualified Pipeline Supplier since 2014. This close working relationship with a global brand, Huawei, has opened the door for our company to work with a well-respected general contractors for projects not only in China, but globally as well, such as China Railway Engineering Group. Huawei has laid out a development plan to renovate and develop its 10 campuses over the next 3 years. As part of this growth in the build-out of their infrastructure, it is anticipated their annual demand for pipeline will total $10 Million annually.”
About China Railway Construction Engineering Group
China Railway Construction Engineering Group Co., Ltd is a state-owned construction enterprise incorporated in 1953 and operates as general contractor of housing construction and railway projects in China and internationally. It offers survey and design, real estate development, engineering construction, equipment installation, decorations, roads, bridges and tunnels construction, steel structure engineering, machinery manufacturing, and material trade. The company was founded in 1953 and is based in Beijing, China. China Railway Construction Engineering Group Co., Ltd operates as a subsidiary of China Railway Group Limited. As one of the largest construction and engineering companies in China, CRCEG currently employs approximately 10,000 workers and generates upwards of $15 Billion in annual revenue, with global projects in Asia, Middle East, North Africa and Africa. CRCEG is ranked 57th among the Fortune Global 500 and the 7th among the Fortune China 500 in 2015, as well as 2rd among ENR’s Top 250 Global Contractors in 2017, is the second largest engineering contractor in China.
About Huawei Technologies Co.
Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by a commitment to sound operations, ongoing innovation, and open collaboration, we have established a competitive ICT portfolio of end-to-end solutions in telecom and enterprise networks, devices, and cloud technology and services. Our ICT solutions, products, and services are used in more than 170 countries and regions, serving over one-third of the world's population. With 180,000 employees, Huawei is committed to enabling the future information society, and building a Better Connected World.
Huawei has over 170,000 employees as of September 2015, around 76,000 of whom are engaged in research and development (R&D). It has 21 R&D institutes in countries including China, the United States, Canada, the United Kingdom, Pakistan, Finland, France, Belgium, Germany, Colombia, Sweden, Ireland, India, Russia, Israel, and Turkey, and in 2014, the company invested $6.4 billion USD in R&D, up from $5 billion USD in 2013. In 2016 Huewai Technologies Co reported revenues of $75.103 billion US.
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the “Water Cube” and “Bird’s Nest”, which were venues for the 2008 Beijing Olympics. Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water to not only to the China market but to international markets such as Europe, East Asia and Southeast Asia.
For more information please visit www.ZKInternationalGroup.comhttp://www.ZKInternationalGroup.com/. Additionally, please follow the Company on Twitter, Facebook, YouTube,https://twitter.com/ZKIN_CleanWater and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.
Safe Harbor Statement
This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are described more fully in ZK International’s registration statement on Form F-1 that was filed with the SEC. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Contact: KCSA Strategic Communications Valter Pinto, Senior Vice President PH: +1 (212) 896-1242 ZKInternational@KCSA.com
Released December 6, 2017