December 9, 2010 (FinancialWire) (http://www.financialwire.net/) — China Valves Technology, Inc. (NASDAQ: CVVT), a Chinese metal valve manufacturer, said that it has received a purchase order worth $15 million for pumped storage inlet valves for hydraulic turbines and large diameter pumped energy storage ball valves from Dongfang Electric Corp., a maker of power generating equipment and contractor for power station projects.

The valves will be produced by the company's subsidiaries China Valve Technology Valve Co., Ltd. and Zhengzhou Zhengdie Valve Co, Ltd.

In February 2010, China Valves signed a strategic cooperative framework agreement to establish a joint research and development center for the development of high-end valves that Dongfang Electric currently imports.

China Valves said it is anticipated that in the next five to 10 years, the dramatic growth in the number and scale of hydropower and nuclear plants will result in around $10 billion demand for these advanced valves.

China-based China Valves Technology, through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Taide Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., China Valve Technology Valve Co., Ltd. and Shanghai Pudong Hanwei Valve Co., Ltd., is engaged in the development, manufacturing and sale of metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries.

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