It seems that almost every press release they make is inaccurate or misleading.
How many false claims or misleading statements can you find in this press release from 2005? I found four.
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"TTCM, China's Leading GRP Piping Company Expands to North America
TTCM China, Inc. and its subsidiary, Tianjin Tianlian Composite Material Company, Ltd. (collectively TTCM), China's leading supplier of glass-reinforced plastic piping and associated products, is looking to the Americas to broaden its market.
Founded in 1995, TTCM's core business is the production, processing and sales of glass-reinforced plastic pipes wrapped with sand inclusion and glass-reinforced plastic products. Its primary products include various types of regular and high-pressure pipes, fittings, round containers, cooling towers, and fans. The Company is also engaged in the development and production of new high polymer synthetic material.
The company having exhausted much of the Chinese market is now looking to form alliances and partnerships in the Balkans and in the Americas.
In 2004, TTCM delivered over 30% of the total market share, ranking it first in its industry in China. On the international market, TTCM has established business relationships with buyers in Singapore, Kuwait, Iraq, Afghanistan, and South Africa; developing valuable technical exchanges and opportunities for TTCM to expand internationally.
"Broadening our international business will prove invaluable as we begin to penetrate the US market," said Mr. Jiqun Wang, Chairman and President of TTCM. "We are very excited about the opportunity to grow, which allows TTCM to grow more rapidly and become a true international corporation."
TTCM has enjoyed double-digit growth consistently over the past several years and recorded annual revenues of over $10 million on an unaudited basis. TTCM expects growth in 2005 to be strong through its plans of acquisitions and international growth.
While the China market continues to grow at a hot rapid pace, especially with regard to infrastructure and real estate development, the need for water pipelines is ever demanding. At the same time, a massive amount of old pipelines need to be replaced to suit the modernization of the country.
"Our global plan is to continue our rapid growth in China and to enter the North American, Latin American and the Baltic markets through Strategic Alliances, Partnerships and Acquisitions. Our Network already takes us throughout Asia, the Middle East and entering Europe," stated Mr. Wang.
"With our high quality products and our extremely competitive pricing structure, we are confident about our expansion into other markets. Over the coming weeks our plans are to unveil new and exciting products, partnerships and acquisitions.
"TTCM is prepared to respond to the demand for its products. We are positioned to continue to be a major player in this market space," continued Mr. Wang. "We also have the capability and capacity to expand our product lines into the sewer, gas and oil distribution markets."
TTCM China recently announced details of a newly built Liao Ning Carbonization Power Plant, with an initial capacity of 150 thousand tons. The plant will be fully operational by the end of 2005 with total capacity of 400 thousand tons."
AI
