WUXI, China, Nov. 15, 2010 /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 received another contract to supply forged rolled rings to
Luoyang Xin Qiang Lian Bearing Co., Ltd. ("Xin Qiang Lian"), a wind
power component producer.
Pursuant to the contract, China Wind Systems will supply 3578.2
tons of forged rolled rings to Xin Qiang Lian by March 31, 2011 at a selling price of RMB12,000 ($1,806)
per ton. The total sales price is RMB 42.9
million ($6.5 million).
"Given the satisfaction with the quality and performance of our
products, Xin Qiang Lian increased their order with us by 41.7% in
tonnage. This large scale repeat order within a period of three
months demonstrates the high-quality of our products and services,
technical capability and strong market position," said Mr.
Jianhua Wu, Chairman and CEO of
China Wind Systems. "We have observed rising demand for wind
related forged rolled ring products driven by strong market demand
for wind power. We anticipate our wind segment to drive our future
revenue and net income growth."
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
industry in China. With its new
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.
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For more information, please
contact:
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Company Contact:
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Investor
Relations Contact:
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Ms. Teresa Zhang
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Mr. Athan
Dounis
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Chief Financial
Officer
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Account
Manager
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China Wind Systems,
Inc.
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CCG Investor
Relations
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Tel: +1-877-224-6696
x705
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Tel:
+1-646-213-1916
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Email:
teresa.zhang@chinawindsystems.com
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Email:
athan.dounis@ccgir.com
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Web:
http://www.chinawindsystems.com
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Web:
http://www.ccgirasia.com
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SOURCE China Wind Systems, Inc.