WUXI, China, Jan. 21 /PRNewswire-Asia/ -- China Wind Systems, Inc. (Nasdaq: CWS) (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 completed the infrastructure construction for its ESR production line and now is installing equipment in the facility.
The Company expects to commence ESR production in March 2010 and to deliver approximately 4,000 tons of ESR products in 2010, pursuant to orders which it has received. The current selling price per ton of ESR products in the Chinese market is RMB 25,000 (USD $3,660).
"We remain on schedule to launch our ESR product in March, given the focus and diligence of our entire team to rapidly expand our business," commented Mr. Jianhua Wu, the Company's Chairman and CEO.
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 and energy industries in China. With its newly finished state-of-the-art production facility, the Company is expected soon to significantly increase its 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 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 ( http://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: +86-138-1194-8079
Email: teresa.zhang@chinawindsystems.com
Web: http://www.chinawindsystems.com
Investor Relations Contact:
Mr. Shaun Smolarz
Financial Writer
CCG Investor Relations
Tel: +1-646-701-7444
Email: shaun.smolarz@ccgir.com
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
