BEIJING, April 21, 2014 /PRNewswire/ -- Tri-Tech Holding
Inc. (OTC: TRITF), which provides turn-key water resources
management, water and wastewater treatment, industrial safety and
pollution control solutions, announced today that, the Company's
Board of Directors has approved the divestiture of Beijing Huan Xia
Yuan Jie Water Tech Co., Ltd. ("Yuan Jie") by selling the Company's
51% interest in Yuan Jie to the minority owner of Yuan Jie.
For its 51% holdings, the Company is expected to receive total
compensation of approximately RMB 10
million, including approximately RMB
2 million in cash from the minority owner of Yuan Jie and
repayment of a loan and related interests of approximately
RMB 8.1 million to the minority
owner.
Peter Dong, Executive Director
and CFO of the Company, commented that, "The Company engaged an
independent expert to determine the fair value of Yuan Jie based
upon the financial analysis and possible projections of future
business of Yuan Jie. We expect the divestiture to help the Company
to further improve its cash position as well as debt ratio."
About Tri-Tech Holding Inc.
Tri-Tech is an innovative provider of consulting, engineering,
procurement, construction and technical services. The Company
supports government, state owned entities and commercial clients by
providing efficiency oriented solutions focused on treatment of
water and waste water, management of water resources and
water-efficient irrigation, as well as industrial emission and
safety controls. With software copyrights, product patents, and
capable employees in China, the U.S. and India, Tri-Tech's
capabilities span the cycle of innovation. Please visit
www.tri-tech.cn for more information.
An online investor kit including a company profile,
presentations, press releases, current price quotes, stock charts
and other valuable information for investors is available at
www.tri-tech.cn/ir. To subscribe to future releases via e-mail
alert, visit www.tri-tech.cn/ir/info/request
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of
1995. These statements are subject to uncertainties and risks
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. 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.
For more information, please contact us at:
Tri-Tech Holding Inc.
www.tri-tech.cn
IR Department
+86-10-5732-3666
ir@tri-tech.cn
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SOURCE Tri-Tech Holding Inc.
