CER completes phase 1 of new production facility

CER has completed construction of phase one of its new 15-acre production base in Yangzhou, Jiangsu Province. The company will host an official dedication ceremony at the site on January 8, 2011.

The ceremony will include strategic investors and partners, customers and representatives from banks, state and local government officials and other supporting institutions along with China Energy Recovery or CER employees and friends.

"We are extremely proud of our new facility, which significantly boosts production capability, lowers production costs and provides us the opportunity to expand our participation as a supplier of high-performance energy recovery systems to industry located in China and around the world," CER Chairman and Chief Executive Officer Qinghuan Wu, said.

CER is carrying out its manufacturing capacity expansion at Yangzhou in two phases. With Phase One complete, the company has initiated Phase Two of its expansion plan, which will approximately triple the capacity of the new facility. With Phase Two complete in 2012, CER's site will stand as the largest single facility dedicated to the design and manufacture of energy recovery systems in China.

"CER is now in position to gain a greater share of the market," Mr. Wu said. "Growth in demand for energy recovery systems is accelerating as regulation and incentives are brought to bear on heavy industry globally to improve energy efficiency and environmental protection.

Mr. Wu also stated that CER and its audit firm, PricewaterhouseCoopers, are focused on bringing the company's filings up to date as quickly as possible with the U.S. Securities and Exchange Commission.