China Wind Systems, Inc. Provides Update on Electro-Slag Remelted (ESR) Facility
January 21 2010 - 9:00AM
PR Newswire (US)
WUXI, China, Jan. 21 /PRNewswire-Asia-FirstCall/ -- 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: Web: http://www.chinawindsystems.com/
Investor Relations Contact: Mr. Shaun Smolarz Financial Writer CCG
Investor Relations Tel: +1-646-701-7444 Email: Mr. Crocker Coulson
President CCG Investor Relations Tel: +1-646-213-1915 (NY office)
Email: Web: http://www.ccgirasia.com/ DATASOURCE: China Wind
Systems, Inc. CONTACT: Teresa Zhang, Chief Financial Officer of
China Wind Systems, Inc., +86-138-1194-8079, ; or Investors, Mr.
Shaun Smolarz, Financial Writer, +1-646-701-7444, , or Crocker
Coulson, President, +1-646-213-1915 (NY office), , both of CCG
Investor Relations, for CWS Web Site:
http://www.chinawindsystems.com/
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