China Power Equipment, Inc. (CPQQ.OB) Announces Tripled Production Capacity at New Plant

QualityStocks would like to highlight China Power Equipment, Inc. (OTCBB: CPQQ). China Power Equipment is a U.S. corporation, which through its wholly-owned subsidiary, An Sen (Xi'an) Power Science & Technology Co., Ltd., and its affiliated operating company, Xi'an Amorphous Zhongxi Co., Ltd., designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy core electricity transformers in the People's Republic of China. The company currently manufactures 59 different products, primarily amorphous alloy cores and amorphous alloy core transformers.

In the company’s news Friday,

China Power Equipment Inc. issued an update on its new plant in the Xi’an Jingwei Industrial Zone in Jingyang, reflecting a tripled capacity for transformer cores. The company said it is now running regular production of amorphous alloy transformer cores, and that it has completed regulatory inspections necessary for operations.

“We have passed all government safety inspections and have completed our pre-production testing of our new production line. As a result, we have started our regular production and are delivering our high-quality amorphous alloy transformer cores to our customers from the new plant,” Yongxing (Henry) Song, chairman and CEO of China Power stated in the press release.

China Power’s new plant utilizes industrial automation and hand work, combing modular programmable logic controller technology and human-machine interface engineering with various other advanced technologies. The company said this results in a plant that produces high-quality, efficient production, and ultimately lower production costs.

“Demand for amorphous alloy transformer products in China continues to increase rapidly as a result of the government’s determination to increase energy efficiency and reduce emissions. Our new plant further qualifies China Power as a reliable high-volume supplier of high-quality amorphous alloy cores. We believe the demand for our additional capacity is real and look forward to higher sales volumes,” Song stated.

The new plant contributes an additional 5,000 metric tons of the company’s annual capacity for amorphous alloy cores, boosting total internal capacity 333 percent to 6,500 metric tons per year, making it the No. 2 amorphous alloy core supplier in the market.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.