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TTCM China Updates $13.2 Million LiaoNing Contract

Post Time:Sep 27,2008Classify:Company NewsView:436

TIANJIN, China, Sep 25, 2008 (BUSINESS WIRE) -- TTCM China, Inc. (Pink Sheets:TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes, today updated the status of previously announced $13.2 M. PanJin, LiaoNing Water Supply Project.

In order not to disturb farming during the summer, the planned commencement of production is rescheduled for the winter. All the preparations by the subsidiary company are ready for the commencement of production in the coming winter.

Also reported that the total assets of the company as of June 30, 2008 were $54.05 million and had no long-term debts.

Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, "We are pleased with rescheduling the production respecting the farmers and government wishes. The demands for TTCM China's products are strong. We are focusing on fulfilling orders in 2008 and beyond and looking into several financing options including HePing Investment Company to enable us to realize the higher revenue in 2008 and beyond."

About TTCM China, Inc.

TTCM China, founded in 1995 and based in Tianjin China, is a leading producer of glass-reinforced composite plastic products including regular and high-pressure pipes, fittings related to the water supply, flood control and sewerage systems. TTCM developed an advanced technology employing micro-emulsification, which enables reduction of the amount of resin used in the production process. These procedures make TTCM's glass-reinforced fiber-plastic pipes superior in strength while only weighing one-fourth the weight of regular steel pipes and one-eighth of concrete pipes.

Safe Harbor Forward-Looking Statements and the risk of doing business in China

Including historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Historical and forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results.

Such risks and uncertainties include, but are not limited to, force d'majeure, foreign currencies exchange-rate, customers' financial conditions, possibility of canceling already-placed orders by customers, extending the delivery-acceptance time, ability to successfully complete additional financings and other risks associated with the operations in China where certain governmental economic or political situation/polices might adversely affect the outcome of the envisioned business.

Source: TTCM China, Inc. Author: shangyi

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