Considering the comments made yesterday re the share placement, what are opinions on what the latest announcement could mean for SCE:
See ANN below:New High Voltage Electrical Product Launch
SUN CONSOLIDATED ENTERPRISES LIMITED 2002-06-20 ASX-SIGNAL-G
HOMEX - Melbourne
+++++++++++++++++++++++++
The Board of Directors of Sun Consolidated Enterprises Limited
("SCE") is pleased to announce that the Group's new high voltage
electrical product, the 110kV/66kV high voltage dry type cast resin
transformer, has successfully completed the year-long on-line test
run in Jining, Shandong, after passing the quality test by China's
National Transformer Quality Testing and Monitoring Centre in
Shenyang. The construction of the new plant for the production of
this new high voltage product line in Shandong Province in China is
now in progress, which will cost the Group approximately RMB80
million (A$18 million) and the new plant is expected to be completed
by the end of this year. The funding of the project is from bank
loans and the Group's internal resources.
Being the first company in the world to successfully manufacture
110kV high voltage dry type cast resin transformer, three times
voltage over the conventional 36kV voltage barrier for cast resin
transformer, signifies a global technology breakthrough by the Group.
The new high voltage dry transformer product combines all advantages
of its predecessors, including more safety and reliability, energy
saving, environmental friendly, well fitted to be installed nearest
to load centre and resulted to significant compound saving on both
cost and energy. This new 110kV/66kV transformer product fills the
local supply gap in China for the high voltage dry transformers and
particularly fits in the demands generated from China's 10-year
national power grid unification program. The Company believes this
new product can bring substantial earnings to the Group.
Should you have any queries, please do not hesitate to contact the
undersigned or our Assistant Company Secretary, Ms Lacony Yue, at
(852) 2867 1780 during office hours or by email address of
[email protected]
V Chol
EXECUTIVE DIRECTOR
SCE
suntech environmental group limited