Wowjoint Holdings Limited Announces a New Manufacturing and A New R&D Facility

Wowjoint Holdings Limited (Nasdaq:

) today announced that it signed an agreement with the Zhenjiang City New District government which permits Wowjoint to establish a manufacturing and R&D facility in Zhenjiang City New District. Zhenjiang is located in Eastern China, about 2-3 hours northwest of Shanghai. Wowjoint established a new subsidiary for the property called Zhenjiang Wowjoint Heavy-duty Machinery Co. Ltd. following the agreement. The new manufacturing facility under Zhenjiang Wowjoint will cover 200,000 square meters of land. Zhenjiang Wowjoint presently owns 48,000 square meters of the land and may purchase the remaining land in stages over the next couple of years. Construction will be split into two phases, with construction commencing in early 2012. Phase one has an estimated completion time of six months, which would be in late 2012. The new manufacturing facility will be focused on producing and providing maintenance services for Wowjoint's launch gantries, lifting equipment, railway transportation equipment and railway testing equipment.