MONTREAL, Feb. 06, 2018 (GLOBE NEWSWIRE) — Via OTC PR Wire — SDT Holdings, Inc. / Wuhan General Group (China), Inc. (OTC PINK:WUHN) (the “Company”).
The proposed state-of-the-art, large-capacity battery facility intends to leverage the newly electric mining equipment market forecasted to reach $56 billion by 2022.
Strategic Development of Electrification Technology (SDET) is a Quebec-based enterprise that specializes in the research and development, prototyping, benchmarking and piloting of industrial batteries. The company also produces low-cost, high-performance battery cells designed for a wide range of heavy-duty industrial electric equipment. These cells are known to have exceptional autonomy and ultra-rapid recharge capabilities, without any degradation or loss of lifecycle.
The Company announced today that it plans to build a R&D laboratory and battery factory, subject to the receipt of mandatory governmental permits along with the solidification of required debt and equity financing. “We are currently in discussion with partners and city officials,” stated Ramy Kamaneh, CEO of SDT Holdings, Inc.
The key companies profiled to use the batteries produced in the new factory include Caterpillar Inc., Komatsu Ltd., Sandvik, Joy Global Inc., Hitachi Construction Machinery Co. Ltd., Atlas Copco and AB Volvo.
The Company anticipates the construction to begin no later than the second quarter of this fiscal year. Phase One is estimated to take five months to complete and Phase Two, nine months. Once fully operational, the facility is projected to be a home base for 25 new permanent jobs with the expectation that more jobs will be created as production ramps up.
About the new factory announcement, Ramy Kamaneh states, “By building a cutting-edge battery factory along the Quebec mining region, which is in direct proximity to lithium, graphite and other primary materials needed to build the battery, we put ourselves in an advantageous supply situation, while reducing our costs significantly. By providing batteries to the mining industry both nationally and internationally, forecast numbers show that we are poised to earn substantial additional revenues in the years to come.”
SDT Holdings, Inc. is a Montreal-based industrial technology holding company that focuses on the development, production and commercialization of its four subsidiaries, specialized in these areas: mining electrification, cryptocurrencies / blockchain, industrial batteries, internet of things and artificial intelligence for the industrial market. Dedicated to supplying quality, innovative technologies and battery solutions, SDT Holdings services the transport, mining, agricultural, industrial and earthmoving industries.
Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.