HONG KONG, Oct. 25, 2010 (GLOBE NEWSWIRE) -- Sino Fibre Communications, Inc. "SFBE" (OTCBB:SFBE) confirmed today its commitment to the renewable energy business in China.
SFBE acquired 50.1% of Europe-China Commercial Union Holdings Ltd "ECL" for US$100 million on October 15th. ECL indirectly holds a 70% interest in approximately 70 sq. kilometers of leased land in Inner Mongolia Province, China.
The South China Morning Post on Oct 21st quoted Erwin Jackson, Director of the Climate Institute, as saying, "The Chinese leadership have made a strategic decision that they missed out on the last two industrial revolutions and they don't want to miss out on the third one."
Daniel McKinney, CEO of Sino Fibre, commented on the new business; "China is the world leader in renewable clean energy with over US$35 billion invested in 2009 and with a target of 15% supplied from green energy sources by 2020. We plan to be a significant player in this space."
About Sino Fibre Communications, Inc.
Established in May 2005, Sino Fibre Communications, Inc. is a Nevada Corporation with businesses targeted in the high growth sector of bio-energy, bio-diesel, wind and solar farms in Inner Mongolia, China. The company name will be changed to Sinobioenergy.com. Please see:
The Sino Fibre Communications Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4102
This press release contains forward-looking statements based on management's expectations and beliefs, and involve risks and uncertainties which may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Actual results may differ materially from those described in forward-looking statements and therefore readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
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