Re: Partnership agreement in China
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Nov 27, 2009 08:06AM
We make wireless work.
TORONTO, Oct. 23, 2007 - Active Control Technology Inc. (TSX-V:ACT) announced today that Peiwei Ni, President of Wesbridge Capital Corporation, has been appointed as an independent member of ACT’s board of directors.
Mr. Ni provides ACT with strong links to business and government in China. This includes extensive relationships in China’s coal industry and Ministry of Commerce, which he has assisted in arranging numerous mining conferences. ACT plans to explore sales opportunities in China for ActiveMineTM, the company’s 100 percent wireless voice communications, tracking and data system.
Mr. Ni's appointment is subject to regulatory approval.
“Peiwei Ni’s knowledge of the Chinese coal mining sector and many of its key players will assist our efforts to develop new opportunities in that market,” said Steve Barrett, President and CEO, ACT. “His impressive track record of bridging the Chinese and Canadian business communities gives us a big advantage at a time when China is moving rapidly to improve safety in its coal mines.”
In his role at Wesbridge Capital, Mr. Ni advises Chinese companies seeking to go public and raise funds in North America. Companies where he has been instrumental in this role include Hangfeng Evergreen Inc. (TSX:HF) and Migao Corporation (TSX:MGO), where he serves on the board of directors. Mr. Ni also assists Canadian-based companies, like Toronto’s B+H Architects, in China, helping many of them win large international contracts.
A native of Beijing and a graduate of University of International Business and Economics, an elite business school in China, he maintains extensive business and social connections in both Canada and China. Fluently bilingual and bi-cultural, Mr. Ni specializes in interpreting and communicating business values and expectations during negotiations involving Chinese and Western investors.
ACT has recently accelerated its efforts to seek opportunities for ActiveMine in China, which has launched aggressive programs to improve coal mine safety. In 2005, the Chinese State Administration of Work Safety mandated US$6.3 billion in spending to enhance safety at all state-owned mines, and the government has extended regulations and enforcement to more coal mining operations.
China, which has by far the largest number of coal mines in the world, has vowed to reduce accidents in the sector by at least a quarter by 2010. It is estimated that last year, almost 6,000 people were killed in more than 3,000 coal-mine related accidents in the country.
The ActiveMine mine communications and tracking system is designed to improve mine safety and operating efficiency. The technology, which operates on a 100 percent wireless Wi-Fi network backbone, provides two-way voice communications, tracking as well as high-speed data communications for video and other applications. It has been approved by regulatory authorities in West Virginia and meets US federal MINER Act requirements for wireless systems as established in MSHA policies.