Recon Technology (NASDAQ: RCON) this morning announced it has received an authorization letter from ABB (NYSE: ABB), enabling Recon to bid on several of the power and automation technology company’s upcoming projects. Recon said it would provide on-site project commissioning and maintenance services to ABB for any successful project bids. “We are pleased to receive authorization from ABB, giving Recon recognition from the global pioneer of automation technology. Over the years, we have been committed to the exploration and development of new business opportunities outside our traditional oilfield sector. We are confident that our experience within the energy industry, as well as the team’s efforts and constant communication with ABB will be an advantage to us in the bidding process in coming periods. We believe being approved as a qualified provider of services in this field is an important step towards participating in projects going forward. We remain committed to continuously improving our breadth of automation technology solutions and capabilities in order to broaden our customer base,” Recon chairman and CEO Shenping Yin stated in the news release.
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About Recon Technology, Ltd.
Recon Technology is China’s first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China’s largest oil exploration companies, Sinopec (NYSE: SNP) and CNPC, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions on several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major clients, and its products and service are also well accepted by clients. For additional information please visit us at www.recon.cn.
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