China Evergreen Announces New Contract.HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. -- China Evergreen Environmental Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CEEC CEEC Central and Eastern European Country CEEC College Entrance Examination Center CEEC Comité Européen pour l'Enseignement Catholique (Belgium) CEEC Commerce and Engineering Environmental Conference ) today announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Evergreen Asset Group Ltd. has signed an agreement with the municipal government of Hebei Province Noun 1. Hebei province - a populous province in northeastern China Hebei, Hopeh, Hopei Cathay, China, Communist China, mainland China, People's Republic of China, PRC, Red China - a communist nation that covers a vast territory in eastern Asia; the most to undertake a 90,000 cu m/day BOT (build, operate, transfer) municipal waste water treatment facility. The Hebei Hangdan facility, the first of its kind in Hebei Province, one of China's most populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. regions, is scheduled to be completed by the end of 2005 and will generate annual revenues for the group of US$3 million under the BOT contract which has a life of 22 years. In announcing the agreement, Mr Pu Chongliang, Chairman of Evergreen Environmental commented: "The need for adequate municipal and industrial waste water treatment in the heavily populated areas of China as industrial development continues, has become the number one priority for the local government in China. Our track record as a pioneer in this business and reputation for efficiency and technological superiority ensured that Hebei Province came to us when the project was proposed. As the leading designer, engineer and developer of waste water treatment facilities in China, Evergreen has successfully completed 11 projects since 1999 and currently has an order backlog of over US$50 million for both turnkey and BOT projects." About Evergreen: Evergreen Asset Group Ltd is a leading designer, engineer and developer of waste water treatment facilities in China. The with its proprietary technology resources and project management experience, the company provides both turnkey and BOT (build, operate, transfer) services to a range of industrial companies and municipalities throughout China. Forward-Looking Statements: The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to the Classic Electronics acquisition, beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions. |
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