XI'AN, China, Oct. 9, 2012 /PRNewswire-FirstCall/ -- Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq: KONE) ("Kingtone", "we" or the "Company"), a China-based developer and provider of mobile enterprise solutions, today announced that it has signed a contract with Hualu Engineering & Technology Co., Ltd. ("Hualu") to provide wireless system service to Hua lu's coal chemical factory in Jingbian Energy and Chemical Projects and Comprehensive Utilization of Industrial Park in Shaanxi, China ("Jinbian Industrial Park"). Hualu, a state-owned enterprise in China, is dedicated to all round engineering construction services.
The objective of the contract is to provide engineering services to Hualu's coal chemical factory in Jingbian Industrial Park. The services to be performed under this contract include installation, debugging and initial training the staff operating the tank, engineering instruments and telecommunications.
"The signing of this significant contract with Hualu, a large engineering enterprise with remarkable reputation, is a great encouragement to the company in consideration of our depressed business in the past year. It is expected to contribute RMB108.6 million, or approximately $17.2 million revenue to the company," said Chief Executive Officer of Kingtone Mr. Peng Zhang. "We are honored that Hualu selected us for this important role and look forward to building our longstanding relationship with them. We are confident that the engagement with Hualu will enable us to well position and expand our business in the wireless system sector and therefore enhance our share performance in the near future."
About Kingtone Wirelessinfo Solution Holding Ltd
Kingtone Wirelessinfo Solution Holding Ltd (KONE) is a China-based developer and provider of mobile enterprise solutions. The Company's products, known as mobile enterprise solutions, extend a company's or enterprise's information technology systems to include mobile participants. The Company develops and implements mobile enterprise solutions for customers in a broad variety of sectors and industries, to improve efficiencies by enabling information management in wireless environments. At the core of its many diverse packaged solutions is proprietary middleware that enables wireless interactivity across many protocols, devices and platforms.
For more information, please visit Kingtone's website at http: www.kingtoneinfo.com. The Company routinely posts important information on its website.
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