Hanwei Energy Services Corp.
TSX : HE

Hanwei Energy Services Corp.

September 12, 2012 08:00 ET

Hanwei Energy Confirms Pipe Orders of $3.6 Million to New Major International Clients

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2012) - Hanwei Energy Services Corp. (TSX:HE) ("Hanwei" or the "Company") today announced that it has been selected by three major international oil and gas field operators with the award of orders for the supply of the Company's high performance, glass reinforced epoxy pipes and fittings worth a combined value of approximately $3.6 million. The projects are the first to be awarded to Hanwei from these new clients. The projects are located in the Company's Middle Asia and Middle East & Subcontinent markets.

The Company has previously announced revenues of $9.6 million for the three month period ending June 30, 2012 (the Company's First Quarter of Fiscal 2013). As of the date of this press release orders currently being manufactured subsequent to the First Quarter of Fiscal 2013 total some $7.4 million. These orders are expected to be fully produced and shipped in the Company's current fiscal year ending March 31, 2013.

Hanwei also announced today that its Annual General Meeting will be held in Vancouver, Canada on Friday, November 16, 2012.

About Hanwei Energy Services Corp.

Hanwei Energy Services Corp. is a leading manufacturer of high and low pressure, fiberglass reinforced plastic pipe products and associated technologies and services for the international oil and gas, and infrastructure industries. Hanwei serves major energy customers in the Chinese and global energy markets (www.hanweienergy.com).

FORWARD-LOOKING INFORMATION

The forward-looking information in this press release presents the Company's expectations as of the date of this press release and accordingly is subject to change after such date. Readers are cautioned that reference to "orders" hereto are not recognized under IFRS and should not be construed to be indicators of performance or purported to be an alternative to sales or any other financial measures under IFRS. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company does not undertake to update this information at any particular time, except as required by applicable securities legislation.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Contact Information