WUXI, China, Jan. 4, 2011 /PRNewswire-Asia/ -- 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 has
appointed Mr. Fernando Liu, CPA, as
its Chief Financial Officer, effective January 1, 2011.
Prior to joining China Wind Systems, Mr. Liu served as China
Region President of Barron Partners LP, an investment fund which is
primarily focused on the clean energy and China sector. Barron Partners is an investor
in the Company. Previously, Mr. Liu worked at Eos Funds, an
investment fund primarily focused on small and mid-sized companies
in China. Mr. Liu holds a
Bachelor of Commerce degree in Accounting and Finance from the
University of British Columbia and is a
U.S. Certified Public Accountant. He also served for six years in
the Primary Reserve of the Canadian Armed Forces.
Mr. Liu replaces Ms. Teresa
Zhang, who resigned from her position as the Company's Chief
Financial Officer for personal reasons, effective December 28, 2010. Ms. Zhang's resignation is not
in connection with any disagreement with the Company regarding
financial, accounting, or other practices.
Mr. Jianhua Wu, Chairman and
Chief Executive Officer of China Wind Systems, stated, "Mr. Liu, a
certified public accountant, brings a wealth of expertise in
corporate finance, the capital markets, the clean energy sector,
and Western and China business
practices to China Wind Systems. We look forward to benefiting from
his contributions as we grow our business and expand our
capabilities."
"I am excited to be joining China Wind Systems and helping to
accelerate the Company's expansion in China's large and fast growing wind industry,"
stated Mr. Liu. "I look forward to assisting the Company in
fulfilling its strategic and financial goals. In addition, I plan
to contribute to seek to optimize the Company's operations and
explore additional clean technology opportunities, such as the
solar energy market."
The Company also announced it hired Ms. Ana Liu, Chartered Accountant, as Controller,
effective January 1, 2011, to assist
the Company in complying with the financial reporting and control
requirements of Article 404 of the Sarbanes-Oxley Act. Ms.
Liu is Mr. Liu's sister. Prior to joining the Company, Ms. Liu
served as a Senior Accountant at SAP, a provider of business
software solutions; and as an auditor at the accounting firm of
Wolrige Mahon LLP. She holds a Bachelor of Commerce degree in
Accounting and Transportation and Logistics from the University of British Columbia and is a Canadian
Chartered Accountant. The Contoller is not an executive officer of
the Company.
Mr. Wu concluded, "We appreciate Ms. Zhang's contributions as
our Chief Financial Officer. She has been a highly valued member of
our team and we wish her all the best in her future endeavors."
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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Mr. Fernando
Liu
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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:
+ 86-13761347367
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Tel:
+1-646-213-1916
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Email:
fol@chinawindsystems.com
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Email:
athan.dounis@ccgir.com
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Web:
www.chinawindsystems.com
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Web:
www.ccgirasia.com
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SOURCE China Wind Systems, Inc.