LianDi Clean Technology Inc. Reports Financial Results for Fourth Quarter and Fiscal ....
LianDi Clean Technology Inc. Launches Development of Software Modules for the Chemical Production Safety Management Market
· $100 million market opportunity in China
· Modules based on proprietary technologies from recently secured patents
BEIJING ¨C September 13, 2010¨C LianDi Clean Technology Inc. (OTC BB: LNDT), (¡°LianDi¡± or the ¡°Company¡±), a provider of clean technology, downstream flow equipment, engineering services and software to China¡¯s leading petroleum and petrochemical companies, today announced it has launched the development of new operational risk management software modules for petrochemical companies in China. LianDi plans to develop integrated resource management software based on its existing technologies.
¡°We are excited about getting a head start on our competitors in the $100 million resource management software market,¡± stated Mr. Jianzhong Zuo, Chairman, Chief Executive Officer and President of the Company. ¡°With the experience we have developing integrated and scalable software modules for large petrochemical companies in China, we are confident we can become a market leader. We have already discussed our R&D roadmap with China National Petroleum (CNP). Leveraging the three software copyrights we recently received and assigning three senior research staff on this project.
With petrochemical production processes becoming more complex and safety requirements becoming more stringent, companies in China are looking for a reliable system that allows them to assess and monitor the most critical equipment within their production facilities. Very few products exist in China today because most large multinationals sell products that are only compatible with their own hardware while smaller, local competitors sell products that lack the reliability required by large petrochemical companies. LianDi will use its expertise, technology and relationships with companies like China Petrochemical to fill this gap.
LianDi¡¯s integrated resource management system has three primary services: 1) evaluates the risk of still equipment, 2) evaluates the risk of moving equipment, and 3) evaluates risks during installation of new equipment. The Chinese authorities will likely follow the EU and the U.S. in requiring all three risk analysis to be performed by all petrochemical companies operating in China. The price of the integrated resource management system is approximately $2 million.