On June 16, 2011, Xinde Technology Co (Public, OTC: WTFS) announced that its new diesel fuel injection system are expected to end technical monopoly of foreign competitors in China’s domestic market.
The Company announced that after the several test & market studies and the granting of technical patent certification and exclusive manufacturing and distribution rights for its breakthrough diesel engine FIRCRI common rail electrically-controlled fuel injection system, it expects that its new diesel fuel injection system jointly developed with engineers at Tianjin University will end the technical monopoly currently enjoyed in China by foreign manufacturers in this key product category.
The Company strongly believes the new Xinde fuel injection system will help in reducing fuel/energy costs by providing for uniform fuel supply and optimal combustion, reducing gas emissions and will cost 50% to 75% less than foreign manufactured systems.
Shares of the company are currently trading at $0.72, 20% above the previous day close with an unusual high volume of 6.78 million shares. The 52 week range of the stock is $0.16-$1.40. The market cap of the stock stands at $172.80 million with P/E of 7.41.
Xinde Technology Company (Xinde), formerly Wasatch Food Services, Inc., engaged in design, development, manufacture, and commercialization of fuel injection pumps, injectors, multi-cylinder diesel engines and small generator units mainly in the People’s Republic of China.
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