Environmental Protection

Anshan Iron and Steel Contracts with China Industrial Waste Management

China Industrial Waste Management, Inc., a Republic of China-based industrial waste processor and provider of environmental protection, pollution treatment, and waste management design services, announced March 23 that it signed an agreement to provide waste management services for Anshan Iron and Steel Group, which is the second largest steel producer in China.

CIWT won the open tender offered by Anshan Iron & Steel Group to process waste generated by its Angang Steel subsidiary and Bayuquan Steel subsidiary in February 2009 and finalized the contract in early March. Under the agreement, CIWT will provide incineration and landfill services for hazardous waste generated at these two facilities. Services will be provided for one year, with the opportunity for future contract renewals. The waste will be processed at CIWT's SEPA-certified waste incineration facility and waste landfill site in Dalian. Since the contract was signed, CIWT has made four collections of hazardous waste from Anshan.

"We are very excited about this new opportunity which resulted from both our reputation in the industry and focused efforts to develop new markets and incremental revenue opportunities," said Jinqing Dong, chair and chief executive officer of CIWT.

"Our business model is premised around building strategic partnerships with large enterprises and providing them with comprehensive environmental services. This new contract will allow us to demonstrate our capabilities in managing hazardous waste for the steel industry and serves as a conduit for future business with other large steel enterprises," he said. "We will continue to focus on developing partnerships with large enterprises in Northeast China while further diversifying our revenue streams. Although China's economy has been impacted by the global economic crisis, we are confident that China's stimulus plan, which specifically denotes increasing investment in environmental protection and municipal waste treatment facilities, will create new growth opportunities for CIWT. This, combined with our efforts to develop new business, will help maintain our growth and momentum in 2009 and beyond."

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