The company also said that the Chinese government recently mandated automated cleaning technologies to be used in all oil refiners in China in order to improve the safety of refining operations.
The company’s management estimates that the market for cleaning technologies is approximately $120m, growing at about 7% per annum.
Currently, less than 20% of Chinese oil refineries use automated cleaning technologies compared to 80%-90% in developed countries.
LianDi is a provider of clean technology, downstream flow equipment, engineering services and software to China’s petroleum and petrochemical companies.
