ZhongDe Waste Technology AG

M&A Activity • Dec 30, 2009

News Details

Corporate | 30 December 2009 10:55

ZhongDe Waste Technology AG signs agreement to increase contract amount of Datong Project

ZhongDe Waste Technology AG / Agreement

30.12.2009

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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Hamburg, December 30, 2009 - ZhongDe Group [Ticker ZEF] has signed a
supplementary agreement with Datong Fuqiao Waste-to-Power Co., Ltd (Fuqiao)
to increase the contract amount of the Datong EPC project by RMB 24.8
million (approx. EUR 2.48 million).

According to the original contract, as Fuqiao has repeatedly asked for the
design adjustment, the construction costs of the Datong project have
sharply increased. ZhongDe proposed to increase the contract amount for the
project. After the additional project costs were verified by Fuqiao, Fuqiao
has agreed to increase the contract amount of the Datong project by RMB
24.8 million (approx. EUR 2.48 million). The additional contract amount
will contribute to earnings in Q4 2009.

Zefeng Chen, founder and CEO of ZhongDe Waste Technology AG, comments: 'We
have secured the order with first-rate technology, and built up a good
relationship with our customers through meeting their needs and a sincere
cooperation. The signing of this supplementary agreement reflects that we
are committed to making first-rate environmental protection facilities for
our customers and creating better returns for our shareholders.'

About ZhongDe Group
ZhongDe Group designs, manufactures and installs pyrolytic, grate and
rotary kiln waste incinerators for the disposal of solid municipal,
industrial (including hazardous) and medical waste, as well as complete
sets of incineration plants with electricity generation. Since 1996,
ZhongDe Group has installed approximately 200 waste incinerators in about
13 provinces and more than 80 waste incinerators in the last three
financial years alone. Its waste incinerators are principally constructed
for small and midsized Chinese cities in developed areas of the People's
Republic of China, as well as for operators of medical disposal centers in
the hospital and healthcare industry. ZhongDe Group is one of the leading
suppliers of state-of-the-art solid waste incinerators in China. ZhongDe
Group also acts as one of the leading players of large-size Waste-to-Energy
industry in China.

William Jiuhua Wang
Executive Director & CFO
ZhongDe Waste Technology AG
Tel: +86 (10) 885 98 010
E-Mail: william.jw@zhongdetech.com

Li Zhong (Linda)
Investor Relations Manager
Stadthausbrücke 1-3
20355 Hamburg
Tel: +49 40 37644 756
Fax: +49 40 37644 500
E-Mail: zhong.li@zhongde-ag.de

30.12.2009 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: ZhongDe Waste Technology AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 745
Fax: +49 40 37644 500
E-mail: cornelia.dieker@zhongdetech.de
Internet: www.zhongdetech.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart

End of News DGAP News-Service

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