Partnering With ABB Seen As Enhancing Growth Prospects by Expanding Products and Services Offerings
BEIJING, August 28, 2014 /PRNewswire/ — Recon Technology (NASDAQ: RCON), a leading independent oilfield services provider operating primarily in China, today announced it has been certified by ABB, a worldwide market leader in automation systems and control technologies, as an Authorized ABB Third Party System Integrator, to sell and service ABB automation and control products to oil and gas customers in China.
Proud to Qualify
Mr. Shenping Yin, Chairman of Recon, stated, “We are very proud that we are able to meet ABB’s certification standards. This reflects their confidence in our future success based on our technical capability and knowledge of China’s oil and gas industry.”
He continued, “ABB has long been an automation leader globally in a variety of industries and is well respected by our oil and gas customers. A number of its products are complementary to ours. In the short term, we are looking to further improve our automation control system by incorporating in it the ABB Distributed Control System (DCS), as well to provide a more comprehensive line of products and services to our customers.”
Enhancing Growth Prospects
“Of course,” Mr. Yin added, “by continually improving our products and services, and by developing and strengthening relationships with global leaders serving the oil and gas industry such as ABB, Emerson, Baker and Hughes and others, we believe we are continuing to enhance our growth prospects.”
Recon Technology, Ltd. is China’s first independent oil and gas field service company listed on NASDAQ (RCON). Recon, closely working with leading global partners, has achieved rapid growth supplying China’s largest oil and gas exploration companies, including Sinopec and China National Petroleum Corporation, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measures. The solutions Recon provides are aimed at increasing gas and petroleum extraction levels, reducing impurities and lowering production costs. For additional information, please visit www.recon.cn
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are based upon the current beliefs and expectations of the Company’s management and subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. Actual results may differ significantly from those set forth in the forward-looking statements.
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Recon Technology, Ltd.
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