QualityStocks.net News – Asia Electrical Power International Group Inc. (AEPW.OB) Receives $7 Million Order to Revamp China’s Damaged Electrical Grid

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We would like to highlight Asia Electrical Power International Group Inc. (OTCBB: AEPW). The company, through its wholly owned subsidiary Asia Electrical Power Co. Ltd., is a leading manufacturer of secondary electrical power systems in China. The Company is a high technology enterprise dedicated to manufacturing the finest components in secondary electrical power systems, such as cabinet-type electric substations, outdoor switching-mechanisms, cable feeder pillars and switching elements.

In the Company’s news today,

Asia Electrical Power International Group Inc. (AEPW) announced it received more than $7 million in orders from the Chinese government in the first quarter of 2008. The purchase orders were for the company’s power system components and complete-set equipment, which will be used to restore and upgrade damaged electrical grids throughout China.

On January 29, 2008, the worst winter storm to hit China in over half a century damaged China’s electric grid infrastructure, throwing China into a freezing darkness, leaving millions of travelers stranded and millions more without power or transportation. This catastrophe prompted the Chinese government to pledge more than $40 billion to reform the grid and restore electricity.

“It is unfortunate that China and the Chinese people had to endure such a devastating storm during the most important holiday in the country, and even more unfortunate that they endured it without electricity and the transportation means dependant on it,” Yulong Guo, Asia Electrical’s CEO stated in the press release. “However, this tragedy served as the catalyst for the government to place top priority to upgrading the aged electric grid system throughout the country and allocate the needed funds and resources to complete the task expeditiously.”

Asia Electrical is one of only a few electrical component manufacturers in China granted manufacturer status, receiving certification as a “Key Manufacturer” by the National Power Authority of China. This $7 million order is expected to be completed and delivered this year, and indicates Asia Electrical’s role in the upgrade and reform of China’s electrical grid.

“We are very excited to take part in this massive rebuilding project throughout China and, with our recent move to our new manufacturing facilities, we are very well positioned to take full advantage of and easily meet this drastic increase in demand. We have started the year with a tremendous boost in sales, both from domestic and international markets, and are looking forward to sustaining and increasing this growth rate in the coming quarters and years,” stated Guo.

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