WUXI, Jiangsu, China,
Aug. 25 /PRNewswire-Asia-FirstCall/
-- China Wind Systems, Inc. (Nasdaq: CWS), ("China Wind Systems" or
the "Company"), a leading supplier of forged products and
industrial equipment to the wind power and other industries in
China, today announced that the
Company was awarded a new contract to supply forged rolled rings to
Luoyang Xin Qiang Lian Bearing Co., Ltd., a wind power component
producer.
Xin Qiang Lian has advised us that its customer base includes
leading companies such as Dongfang Turbine Co., Ltd., Guodian
United Power Technology Co., Ltd., Xiangtan Electrical and Mingyang
Wind Power Group Company Ltd.
Pursuant to the contract, China Wind Systems will supply 2,526
tons of forged rolled rings to Xin Qiang Lian by September 30, 2010 at a selling price of
RMB12,000 ($1,765) per ton. The total sales price is to be
RMB 30.3 million ($4.5 million).
"We are pleased to enter into a supply contract with Xin Qiang
Lian, which further validates our product's high-quality and
performance," said Mr. Jianhua Wu,
Chairman and CEO of China Wind Systems. "We are excited about the
growth prospects for wind power in China and continue to position China Wind
Systems as a leading component supplier to the rapidly-growing wind
power industry."
About China Wind Systems, Inc.
China Wind Systems supplies precision forged components such as
rolled rings, shafts and flanges to the wind power and other
industries and industrial equipment primarily to the textile
industry in China. With its newly
finished state-of-the-art production facility, the Company has
increased its production and 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 and
affiliated 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:
Ms. Teresa Zhang
Chief Financial Officer
China Wind Systems, Inc.
Tel: +1-877-224-6696 x705
Email: teresa.zhang@chinawindsystems.com
Web: http://www.chinawindsystems.com
Investor Relations Contact:
Mr. Athan Dounis
Account Manager
CCG Investor Relations
Tel: +1-646-213-1916
Email: athan.dounis@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China Wind Systems, Inc.
Copyright . 25 PR Newswire