Stock News: Advanced Holding won 3.5 mln usd contract!

Advanced Holdings Ltd said it has won its first clean-fuel contract worth 3.5 mln usd to supply alkylation process equipment to a new grassroot refinery in China. The company said it expects to win more orders from the Chinese oil firm in the next few months, for total contracts of over 6 mln usd. The name of the Chinese oil firm was not provided. "The project has established the start of our clean-fuel business, and we believe this will set the stage for our future clean-fuel process technologies and equipment contract wins in China and elsewhere," Advanced Holdings managing director Kar Wong said in a statement. "We anticipate immense opportunities for clean-fuel refinery technologies and equipment, especially in view of the China government's race to implement the Euro IV emission standard in Beijing by 2008 and naitonwide in China by 2010," he added.