WUXI, China, June 12, 2017 /PRNewswire/ -- Cleantech Solutions
International, Inc. ("Cleantech Solutions" or "the Company")
(NASDAQ: CLNT) today announced that it has entered into exclusive
discussions with ECrent Capital Holdings Limited ("ECrent"), a
private company incorporated in British
Virgin Islands focusing on developing and operating of a
global rental platform to promote sharing economy across 30
countries and regions.
The Company's board of directors plans to form a special
committee consisting of independent directors to evaluate and
negotiate, on behalf of the Company, the potential acquisition
and/or business cooperation transaction(s) with ECrent. The special
committee is also expected to engage independent financial and
other advisors in connection with such potential transactions. The
exclusive period is initially set for three months and may be
extended by both parties.
About Cleantech Solutions International
Cleantech Solutions, through its affiliated companies, designs,
manufactures and distributes a line of proprietary high and low
temperature dyeing and finishing machinery to the textile
industry. The Company's latest business initiatives are
focused on targeting the technology and sharing economy markets in
China.
About ECrent Capital Holdings Limited
Ecrent Capital Holdings Limited operates ECrent platforms and
local business operations across 30 countries and regions,
including Greater China,
Taiwan, Canada, Brazil, Argentina, Mexico, Thailand, India, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Cambodia, Japan, Korea, Australia, New
Zealand, United Kingdom,
Germany, France, Poland, Switzerland, Netherlands, Denmark, Russia, Italy, Spain,
Portugal, Greece. ECrent promotes sharing economy
through rent to reduce environmental damages caused by excessive
consumption.
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies and certain potential transactions that they
may enter into. 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.
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,
2016 and in our Form 10-Q for the quarter ended March 31, 2017. 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.
Company Contacts:
Cleantech Solutions International,
Inc.
Parkson Yip, Chief Operating
Officer
E-mail: ir@cleantechsolutionsinternational.com
+852-31060372
Web: www.cleantechsolutionsinternational.com
Compass Investor Relations
Elaine Ketchmere, CFA
Email: eketchmere@compass-ir.com
+1-310-528-3031
Web: www.compassinvestorrelations.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cleantech-solutions-international-enters-into-agreement-with-ecrent-china-for-sharing-economy-platform-development-300472461.html
SOURCE Cleantech Solutions International, Inc.