China Valves signs letter of intent to purchase hydro industry valve manufacturer

China Valves Technology Inc., a leading metal valve manufacturer with operations in China, has signed a letter of intent to acquire 100 percent ownership in Able Delight Valve Co., Ltd., a valve manufacturer that specializes in hydropower and other water and energy-related fields.

Consideration for the acquisition is approximately US$15 million, and the Company expects to complete the acquisition during the first quarter of 2010, wire reports indicate.

Able Delight, located in Changsha, Hunan Province, is a leading producer of butterfly valves, check valves and ball valves for hydropower plants and other industrial applications.

Able Delight has the capability to produce the largest butterfly valves in China, with a maximum diameter of 5.5 meters.

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