China Water Group, Inc. (OTCBB:CHWG), a waste water engineering company in the People's Republic of China, announces that Mr Peh Chung Lim has today resigned as Chief Financial Officer of the company. The resignation was effective April 30, 2007.
Mr. Lim said "It was a difficult decision, but for personal and family reasons that require my immediate attention, I decided to reduce my professional commitments." Mr. Lim joined the company in May 2005 as a Deputy Chief Financial Officer and was promoted to Chief Financial Officer in December 2005. His departure will not affect the operation of the company.
Mr. Ren Cai Ding, a senior advisor to the company who has previously been serving as CFO of the company prior to Mr. Lim's appointment, will assume the role of Acting CFO until a decision is made regarding a permanent appointment.
About China Water Group
China Water Group is a leading designer, engineer and developer of wastewater treatment facilities in China. With its proprietary technology resources and project management experience, China Water Group provides turn-key, BOT and TOT services to a range of industrial companies and municipalities throughout China. China Water Group also markets and sells its proprietary GM Bio-carriers, a natural, chemical-free process designed to improve the efficiency of the wastewater treatment process.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of China Water Group and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by China Water Group may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements in this document that are not purely historical are forward-looking statements, including any statements as to the beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections includes, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices and other economic factors. China Water Group assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
China Water Group, Inc.
Pu Tingli
8620-3479-9708
8620-3479-9768 (fax)
ptl.china@yahoo.com.cn
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