VALV - Shengkai Innovations, Inc. - Nasdaq

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VALV - Shengkai Innovations, Inc. - Nasdaq



Shengkai Innovations, Inc., through its subsidiaries, engages in designing, manufacturing, and distributing ceramic valves and components for industrial use in the People’s Republic of China. It provides ceramic valves in various categories, including gate valves, ball valves, back valves, adjustable valves, cut-off valves, and special valves. The company also offers a series of services related to industrial ceramic valves comprising manufacture, installation, and maintenance of general industrial ceramic valves, as well as the design and manufacture of various non-standard ceramic valves. It sells its products to electric power, petrochemical, chemical, aluminum, and metallurgy industries through direct sales force and agents. The company also exports its products to Europe, North America, and the Asia-Pacific region. Shengkai Innovations, Inc. is based in Tianjin, the People's Republic of China.

Shengkai Innovations, Inc.
No 106 Zhonghuan South Road
Airport Industrial Park
Tianjin, 300308
China - Map
Phone: [phone]
Fax: [phone]
Website: www.shengkaiinnovations.com

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Mr. Wang Chen has been the Chief Executive Officer of Shengkai Innovations, Inc. (formerly Southern Sauce Co. Inc.) since June 9, 2008 and also serves as its Chief Technology Officer and served as its Principal Accounting Officer. Mr. Wang serves as General Manager at Tianjin Shengkai Industrial Technology Development Co. Ltd. (Shengkai). He serves as Chief Executive Officer of Shengkai. He served as the Principal Financial Officer of Shengkai Innovations, Inc. until March 1st 2010. He worked at Tianjin Dagang Power Plant from September 1987 to July 1992. He has been Chairman of Shengkai Innovations, Inc since June 9, 2008 and its Director since June 9, 2008. Mr. Wang has an MBA from Renmin University of China.



Products
Ceramic Valves
Metal Valves
Ceramic Parts
Applications

www.shengkaiinnovations.com/products

Shengkai mainly produces industrial ceramic valves with calibers up to 1,000mm in various types and in different combinations of ceramic and metal coefficients, depending on their use. Ceramic valves perform significantly better than metal valves due to higher wear resistance, corrosion resistance, high temperature resistance and thermal shock resistance. We estimate that the average service life of our ceramic valves are at least 20 times of that of comparably-sized metal valves currently in the market.

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Shengkai Innovations, Inc. Announces 1 for 2 Reverse Stock Split

TIANJIN, China, Mar 8, 2012 (GlobeNewswire via COMTEX) -- Shengkai Innovations, Inc. (Nasdaq:VALV) ("Shengkai" or the "Company"), a leading ceramic valve manufacturer in the People's Republic of China (the "PRC"), today announced the Company will implement a 1 for 2 reverse stock split of its issued and outstanding common stock ("Reverse Split"), effective on Friday, March 9, 2012. The Reverse Split was approved by the shareholders of the Company on the 2012 Annual Meeting of Shareholders on December 22, 2011. The Company's common stock will continue to trade under the symbol "VALV" on the Nasdaq Global Market after the Reverse Split.
Immediately upon the Reverse Split becoming effective, every two shares of common stock of the Company prior to the Reverse Split will be combined into one share of common stock of the Company. Any owner of less than a single full share of common stock after the Reverse Split will receive a full share of common stock in lieu of the fractional share. The Reverse Split will reduce the number of shares of common stock outstanding to approximately 16.7 million shares from approximately 33.3 million shares, based on the number of shares outstanding as of March 8, 2012.

The Company's transfer agent, Broadridge Corporate Issuer Solutions, Inc. will process the corporate action. The Company's shareholders are required to exchange their current stock certificates for new stock certificates reflecting the adjusted number of shares as a result of the Reverse Split upon receipt of instructions and documents necessary to obtain the new certificates from Broadridge Corporate Issuer Solutions, Inc.

About Shengkai Innovations, Inc.

Shengkai Innovations is primarily engaged in the design, manufacture and sale of ceramic valves, high-tech ceramic materials and the provision of technical consultation and related services. The Company's industrial valve products are used by companies in the electric power, petrochemical and chemical, metallurgy and other industries as high-performance, more durable alternatives to traditional metal valves. The Company was founded in 1994 and is headquartered in Tianjin, the PRC.

The Company is one of the few ceramic valve manufacturers in the world with research and development, engineering, and production capacity for structural ceramics and is able to produce large-sized ceramic valves with calibers of 6" (150mm) or more. The Company's product portfolio includes a broad range of valves that are sold throughout the PRC, to Europe, North America, United Arab Emirates, and other countries in the Asia-Pacific region. The Company has over 200 customers, and is the only ceramic valve supplier qualified to supply SINOPEC. The Company joined the supply network of China National Petroleum Corporation ("CNPC") in 2006 and subsequently received a CNPC Certificate of Material Supplier for valve products in 2011.