LianDi Clean Technology Inc. Announces Change of Auditor to Crowe Horwath (HK) CPA Limited

BEIJING, July 21 /PRNewswire-Asia-FirstCall/ -- LianDi Clean Technology Inc. (OTC Bulletin Board: LNDT), ("LianDi" or the "Company"), a leading provider of clean technology, downstream flow equipment, engineering services and software to China's leading petroleum and petrochemical companies, today announced that the Company has appointed Crowe Horwath (HK) CPA Limited ("Crowe") as its independent registered public accounting firm, replacing AGCA, Inc. Crowe will provide services beginning with the first fiscal quarter of 2011.

Crowe Horwath International is ranked among the top 10 global accounting networks with more than 140 independent accounting and advisory services firms with nearly 590 offices and 28,000 professionals and staff in more than 100 countries around the world.

"We are excited that our new auditor is one of the largest in the world. This is consistent with our ambitious growth and expansion plans," commented Mr. Jianzhong Zuo, chairman, chief executive officer and president of the Company. "We believe Crowe is the best fit for the Company going forward."

The Company's decision to change auditors was not due to any disagreement between the Company and its former auditors on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

About LianDi Clean Technology Inc.

LianDi was established in July 2004 to serve the largest Chinese petroleum and petrochemical companies. Through its four operating subsidiaries, Hua Shen Trading (International) Ltd., Petrochemical Engineering Ltd., Bright Flow Control Ltd. and Beijing JianXin Petrochemical Engineering Ltd., the Company distributes a wide range of customized valves and equipment and provides associated value-added technical and integration service. The Company also develops and markets proprietary optimization software for the polymerization process. In addition, LianDi is focused on the large, rapidly growing, clean technology market for oil refineries, projected to reach over $1 billion in the next 10 years. This market is expected to benefit from favorable Chinese government policies, including tax benefits and other incentives.

Cautionary Statement Regarding Forward-Looking Information

This press release may contain certain "forward-looking statements" relating to the business of LianDi and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the general ability of the Company to achieve its commercial objectives, including the ability of the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov )

    For more information, please contact:

    Company:
     Joe Levinson, VP of Corporate Communications
     Tel:   +1-646-884-0829
     Email: [email protected]

    Investor Relations:
     HC International, Inc.
     Ted Haberfield, Executive VP
     Tel:   +1-760-755-2716
     Email: [email protected]

SOURCE LianDi Clean Technology Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED