Led International Holdings Share News (LED)

LED International, a company involved in the development, manufacture, and sale of led module and other led products, has said its subsidiary, Shenzhen Strongbase, has been awarded a contract by a Chinese company for the supply of one set of reactance filtering equipment.The contract is expected to generate LED revenue of around £152,000.Under the contract, Strongbase New will fit out an existing power consumption system (which are based on traditional power generation equipment) in the oilfield at the China National Petroleum Corporation (CNPC) with its reactance filtering equipment. It is expected that the reactance filtering equipment will deliver energy consumption savings of at least 10% to CNPC. The company expects the work to be completed by the start of December at the latest. Strongbase will receive 90% of its payment within one year and begin a three-year warranty period. LED's Chief Executive Officer, Stephen Chan, said: "We are very pleased to secure this supply contract of reactance filtering equipment to CNPC Xinjiang, one of the giant state-owned enterprises in the country, that we consider vital to our successful penetration to the emerging energy-savings market together with continuing implementation of energy management contract business model in China."NR