China Wind Systems, Inc. Signs $14 Million Contract to Supply Wind Tower Flanges
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WUXI, China, July 30 /PRNewswire-Asia-FirstCall/ -- China Wind Systems,
Inc. (OTC Bulletin Board: CWSI) ("China Wind Systems" or the "Company"), a
leading supplier of forged products and industrial equipment to the wind power
and other industries in China, announced today that the Company signed a $14
million contract to supply wind tower flanges to Chengxi Shipyard Co., Ltd.
("Chengxi")
The agreement with Chengxi indicates that the Company will deliver wind
tower flanges from September 2009 to June 2010 in the amount of 800 to 1,200
tons per month, although the timing and price may be subject to adjustment by
the Chengxi. General Electric, one of Chengxi's largest wind customers, will
be the end customer for these wind tower flanges. Some of Chengxi's other
major wind customers include Vestas, Mitsubishi, and Mitsui.
"This contract is a significant milestone for China Wind Systems, since we
began manufacturing forged products at our new facility earlier this year. We
are confident that as production increases at our Wuxi facility, we will
attract more significant orders," commented Mr. Jianhua Wu, Chairman and CEO
of China Wind Systems. "We will continue our efforts to position China Wind
Systems as a leading components supplier to the wind power industry."
About China Wind Systems, Inc.
China Wind Systems supplies forged rolled rings to the wind power and
other industries and industrial equipment to the textile and energy industries
in China. With its newly finished state-of-the-art production facility, the
Company is expected soon to significantly increase its shipment of
high-precision rolled rings and other essential components primarily to the
wind power and other industries. For more information on the Company, visit
http://www.chinawindsystems.com . Information on the Company's Web site or any
other Web site does not constitute a portion of this release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the
business of the Company and its subsidiary companies. These forward looking
statements are often identified by the use of forward-looking terminology such
as "believes, expects" or similar expressions. Such forward looking statements
involve known and unknown risks and uncertainties that may cause actual
results to be materially different from those described herein as anticipated,
believed, estimated or expected. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic reports that are
filed with the Securities and Exchange Commission and available on its website
(www.sec.gov). All forward-looking statements attributable to the Company or
to persons acting on its behalf are expressly qualified in their entirety by
these factors other than as required under the securities laws. The Company
does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Leo Wang
Chief Financial Officer
China Wind Systems, Inc.
Tel: +1-877-224-6696 x705
Email: leo.wang@chinawindsystems.com
Web: http://www.chinawindsystems.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China Wind Systems, Inc.
Leo Wang, Chief Financial Officer of China Wind Systems, Inc., +1-877-224-6696
x705, leo.wang@chinawindsystems.com; or Investors, Crocker Coulson, President
of CCG Investor Relations, +1-646-213-1915 (NY Office),
crocker.coulson@ccgir.com
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