WUXI, China, May 31, 2011 /PRNewswire-Asia-FirstCall/ -- China
Wind Systems, Inc. (NASDAQ: CWS), ("China Wind Systems" or the
"Company"), a leading supplier of forged rolled rings and other
forged components to the wind power and other industries and
industrial equipment primarily to the textile industry in
China, today announced that the
Company received a sample order from its international customer to
supply equipment used in the manufacture of monocrystalline silicon
wafers.
China Wind Systems is scheduled to deliver the subassembly in
August 2011 for inspection and
approval by its customer. The unit price of monocrystalline
equipment will be almost double the selling price of
multicrystalline equipment.
"Our new sample order to supply subassembly for monocrystalline
silicon wafers reflects the confidence of our customer in our
products and service delivery. The monocrystalline silicon wafers
present an attractive growth opportunity, and we hope for a strong
order flow in the near future. We estimate the potential market for
our subassemblies for monocrystalline wafer equipment can be even
larger than our multicrystalline units," commented Mr. Jianhua Wu, Chairman and Chief Executive Officer
of China Wind Systems. "We believe that the successful
completion of this contract will strengthen our market presence in
the rapidly growing solar industry. With our strong clean energy
sector focus combined with the stated policies of the PRC
Government to encourage the use of clean energy, we expect
increased contribution from our solar segment in the coming
years."
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, including factors described in
"Risk Factors" and
"Management's Discussion and Analysis of
Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31,
2010 and in "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in our Form 10-Q for the quarter ended
March 31, 2011. 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.