The Company is constantly making every effort to improve the balance sheet and build a financially strong company to meet the demand of the company's products throughout the country in parallel with the fast growing economy of China. The company currently has no long-term debt.
Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, "This is the strategy of the Company: to improve the balance sheet and reduce the outstanding short-term bank debt by $2,500,000 from the cash generated from the operation."
He further stated that "The business is expanding in southern and southeastern regions where the economic growth is even faster than the rest of the country. Once again it proves that there is growing demand for our high technology pipes in China, particularly to provide water to rapidly growing areas as well as the flood control systems. Because our pipes are more lightweight and cost efficient, they are suitable for large-scale projects such as this one in GwangXI and FuJian Provinces. We expect to see growing momentum in 2007 and onto 2008 to meet the tremendous demand for clean water delivery and flood control systems in China."