WUXI, China, Jan. 13, 2011 /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 on
January 12, 2011, the Company engaged
Shanghai KRC Business Consulting Co., Ltd. ("KRC") to assist the
Company in preparing for the compliance of the internal control
over financial reporting requirements of Article 404 of the
Sarbanes-Oxley Act ("SOX 404").
KRC's SOX compliance service team will assist China Wind Systems
to meet the requirements of SOX 404. KRC's blend of international
experience and local knowledge provides the support and counseling
to prepare a SOX 404 compliance program, evaluate and document new
procedures for the Company's internal controls and make
recommendations to manage SOX 404 compliance. KRC has assisted many
companies listed in the U.S. in establishing and maintaining SOX
404 compliance programs.
"We are pleased to engage KRC to assist China Wind Systems in
complying with the SOX 404 reporting requirements," said Mr.
Fernando Liu, Chief Financial
Officer of China Wind Systems. "KRC will play an important role in
assisting the Company to achieve its goal of strengthening internal
controls. We are committed to establishing and maintaining sound
corporate governance principles, which we believe is critical to
creating long-term shareholder value."
About Shanghai KRC Business Consulting Co., Ltd.
KRC Certified Public Accountants Co., Ltd. is a professional
local firms association that provides audit, tax, and advisory
services, with a business focus. The aim of KRC is to turn
knowledge into value for the benefit of the firm's clients, people,
and the capital markets. Most of its professional consultants have
several years of experience working with the Big Four CPA firms and
multinational companies as local management. KRC's industry
experience spans from manufacturing, hi-tech, infrastructure,
telecom, pharmaceutical to trading, real estate, retailing,
financial and professional services. Its corporate clients include
multinational companies, foreign invested enterprises, private
companies and SOEs, some of which are Global 100 and Fortune 500
companies.
About China Wind Systems, Inc.
China Wind Systems, Inc. is a profitable, rapidly growing
supplier of precision forged components primarily to the wind
industry in China - the world's
leading wind-power market. The Company also supplies forged and
other components and fabricated products to 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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CCG Investor
Relations
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China Wind
Systems, Inc.
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Tel:
+1-646-213-1916
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Tel: +
86-13761347367
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Email:
athan.dounis@ccgir.com
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Email:
fol@chinawindsystems.com
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Web:
www.ccgirasia.com
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Web:
www.chinawindsystems.com
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SOURCE China Wind Systems, Inc.