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[January 2010]
Shengkai Innovations Approved to List on NYSE AMEX
Shengkai Innovations Inc (Tianjin, China), a leading ceramic valve manufacturer with operations in the People's Republic of China, has received authorisation to list its common stock on the NYSE AMEX market.
The company said in its statement that it expected to begin trading on NYSE AMEX, a subsidiary of NYSE Euronext market, on 23 December 2009 under the ticker ‘SHE’ up to which point its common stock continued to trade on the Over the Counter Bulletin Board under the symbol ‘SKII’.
"We are very pleased that our steadfast commitment to increasing our growth and profitability, as well as our efforts to improve corporate governance to meet the requirements of a senior exchange, have led to our listing on NYSE Amex," said Chen Wang, Chairman and CEO of Shengkai Innovations. "We are honored to join the NYSE AMEX group of companies and believe we will attract additional interest from the investment community, strengthen and grow our investor base and further enhance our corporate image and visibility in the US capital markets."
Shengkai Innovations is one of the few ceramic valve manufacturers in the world with research and development, engineering and production capacity for structural ceramics and is the only valve manufacturer that is able to produce large-sized ceramic valves with calibres of 6" or more. The company's product portfolio includes a broad range of valves that are sold throughout China, to North America, United Arab Emirates, and other countries in the Asia-Pacific region. The company has over 300 customers and is the only ceramic valve supplier qualified to supply Sinopec. The company also became a member of the PetroChina supply network in 2006.
ENDS