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18 Dec 2008 07:00
18 December 2008
LED INTERNATIONAL HOLDINGS LIMITED
("LED International" or "the Company")
led international undeRtakes two projects with Chinese government's traffic department
LED International (ticker: LED.L), the AIM listed manufacturer of LED screens and related products, is pleased to announce is has been selected by the Research Institute of Highway Ministry of Communications, a division of the Chinese Government's Traffic Department, to develop two projects ("Projects") on the use of LED products for road traffic purposes.
The first project, the Transportation Industrial Standard of Highway LED Lighting Facilities, is to develop and design the standards for all new highway LED lightning facilities. The second project, the National Standard of Highway LED Variable Speed Limit Sign, will work towards developing and designing new standards for all new LED speed limit signs in China. The Projects will not provide income from the sales of LED products initially; however, it is expected that the involvement in the Projects will provide the Company with a strong position to enter markets related to the use of LED products on highways in China.
The agreements support the Company's strategy of expanding the use of LED lighting technology to new products and markets. The application of the Company's technology for municipal lighting and viable speed sign projects represents a concerted move into new product lines and more diverse utilisations of the Company's products. Also, the award of these Projects underpins the strength and reputation of LED International in the Chinese market for LED products.
LED International believes that LED products on highways represents the possibility of strong future growth markets. China has indicated that it would spend an estimated US$586 billion over the next two years on infrastructure projects (approximately 7 percent of its GDP each year) to construct new railways, subways, airports and highways. Therefore, LED International is encouraged by their involvement in the Projects which may lead to significant new business.
Thomas Li, Chairman of LED International, commented, "We are thrilled to have signed these two agreements with the Chinese Government's Traffic Department, representing a significant step for the Company towards the further diversification of LED International's technology. The selection of the Company by the Chinese authorities is a considerable endorsement for LED International's technology, and we are confident that this will lay the foundation for further joint projects."
For further information:
LED International +852 2810 4470
www.led-intl.com
Dennis Ow, Executive Director
Zimmerman Adams International +44 (0) 207 060 1760
Dominique Doussot, Jonathan Evans, Charity Walmsley
ICIS +44 (0) 207 651 8688
Christian Taylor-Wilkinson, Bob Huxford
Notes to Editors:
LED International and its subsidiaries specialise in the development, manufacture and sale of low powered / low maintenance LED screens and other LED products such as outdoor signs, lamps, lighting and building illumination. The screens are manufactured in a 'building block' format to a specific design, which allows screens to be assembled to suit a customer's size and definition specifications.
This design also ensures that the screens are relatively easy to transport and assemble. Based in Hong Kong, the Company's primary market has been the People's Republic of China ("PRC"), but it has also supplied end products to Macau, Japan and the USA. Part of the Company's strategy in 2007 was to widen its customer base to markets outside PRC.
The Company listed on AIM, a market operated by the London Stock Exchange, on 23 October 2006. For more information, please visit: http://www.led-intl.com.
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