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==History== ==History==
;1992:Founding of Duoyuan. ;1992:
Founding of Duoyuan.
;1994:Manufacturing facility built in ]. ;1994:
Manufacturing facility built in ].
;1998:Began production of pure water equipment. ;1998:
Began production of pure water equipment.
;2000:Manufacturing facility built in ]. ;2000:
Manufacturing facility built in ].
;2001:
;2001:Began production of sewage and waste water equipments. Began production of sewage and waste water equipments.
⚫ ;2003:Established first postdoctoral water treatment and R&D center.
;2003:
⚫ ;2009:Duoyuan Global Water, Inc. becomes the only ] equipment manufacturing company from China listed on the ], with an initial public offering on June 29 of $16.00 per share<ref>Prospectus, EDGAR Filings."Securities & Exchange Commission", January 29, 2010, accessed July 20, 2011.</ref>.
⚫ Established first postdoctoral water treatment and R&D center.
;2009:
⚫ Duoyuan Global Water, Inc. becomes the only ] equipment manufacturing company from China listed on the ], with an initial public offering on June 29 of $16.00 per share<ref>Prospectus, EDGAR Filings."Securities & Exchange Commission", January 29, 2010, accessed July 20, 2011.</ref>.
;2011: ;2011:


Revision as of 19:52, 20 July 2011

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Duoyuan Global Water is a China-based company that specializes in manufacturing water and waste water treatment equipment. Duoyuan has been around since 1992, providing over 100 types of products and treatment solutions for municipal, industrial, residential and agricultural water systems. Over two decades ago, Duoyuan created the first water treatment apparatus in China, and it has since won awards for its important products and treatment mechanisms.

History

1992

Founding of Duoyuan.

1994

Manufacturing facility built in Beijing.

1998

Began production of pure water equipment.

2000

Manufacturing facility built in Langfang.

2001

Began production of sewage and waste water equipments.

2003

Established first postdoctoral water treatment and R&D center.

2009

Duoyuan Global Water, Inc. becomes the only water treatment equipment manufacturing company from China listed on the New York Stock Exchange, with an initial public offering on June 29 of $16.00 per share.

2011

Duoyuan has announced the resignation of four members of the company's Board of Directors amidst allegations of fraudulent internal company controls. Duoyuan has engaged international law firm Baker & McKenzie and an international accounting firm to conduct an internal investigation and review of the company.

Although Duoyuan Global Water has been accused of securities fraud in a class action lawsuit against the company, this is still in litigation and no formal ruling has been made yet. "We are optimistic that the newly appointed Special Investigation Committee will be able to work quickly towards a thorough and an early completion of their investigation," stated Mr. Wenhua Guo, the newly-appointed chairman of the Board of Directors.

Duoyuan Global Water, Inc. is currently delisted from the NYSE, with its last price being $3.88 per share. Duoyuan does not stand alone as a China-based company under investigation, as there are several others currently being prosecuted for securities fraud as well.


References

  1. Prospectus, EDGAR Filings."Securities & Exchange Commission", January 29, 2010, accessed July 20, 2011.
  2. WSJ Online. , The Wall Street Journal, May 4, 2011, accessed July 20, 2011.
  3. Business Wire. , The Street, September 21, 2010, accessed July 20, 2011.
  4. WSJ Online. , The Wall Street Journal, May 4, 2011, accessed July 20, 2011.
  5. Allegations Against Other Chinese Companies

External links

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