Cleantech Solutions Receives Purchase Orders for Airflow-Dyeing Machines and
WUXI, China, Oct. 31, 2012
WUXI,China, Oct. 31, 2012 /PRNewswire-FirstCall/ -- Cleantech Solutions
International, Inc. ("Cleantech Solutions" or "the Company") (NASDAQ: CLNT), a
manufacturer of metal components and assemblies, primarily used in the wind
power, solar and other clean technology industries, today announced that the
Company has received purchase orders for airflow-dyeing machines and related
components from two new domestic customers.
The first purchase order requires Cleantech Solutions to deliver a total of 63
sets of airflow-dyeing machines and related components for a total purchase
price of approximately $1.7 million (RMB 10.4 million). Pursuant to the
purchase order, the Company has received an advance payment of $0.5 million,
or 30% of the total purchase price, will receive an additional 60% of the
total purchase price upon installation, and will receive the remaining 10%
within three months of installation. Cleantech Solutions expects to deliver
the units in November and December 2012. The Company's airflow-dyeing machines
use flowing air rather than water, which is used in the traditional dyeing
process. The Company believes that its airflow technology reduces input costs,
creates fewer wrinkles and less damage to the textile, and produces a reduced
level of emissions.
"We are pleased with the steady sales momentum of our airflow-dyeing machines
as we continue to attract new customers, which is a strong validation of the
increasing need for our products and services within the textile industry,"
said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions. "We are
committed to growing our customer base alongside the industry-wide replacement
cycle favoring energy friendly machines."
Separately, Cleantech Solutions received an additional purchase order to
supply forged components for flanges from a China-based heavy machinery
customer. The purchase order requires the Company to deliver a total of 36
units for a total purchase price of $0.8 million. Pursuant to the purchase
order, the Company received an advance payment of $0.2 million, or 30% of the
total purchase price, and will receive the remaining 70% upon installation.
Cleantech Solutions expects to deliver the units by the end of November 2012.
About Cleantech Solutions International
Cleantech Solutions is a manufacturer of metal components and assemblies,
primarily used in clean technology industries. The Company supplies forging
products, fabricated products and machining services to a range of clean
technology customers, primarily in the wind power sector and supplies dyeing
and finishing equipment to the textile industry. Cleantech Solutions is
committed to achieving long-term growth through ongoing technological
improvement, capacity expansion, and the development of a strong customer
base. The Company's website is www.cleantechsolutionsinternational.com. Any
information on the Company's website or any other website is not a part of
this press 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" in our
Form 10-K for the year ended December 31, 2011 and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in our Form
10-K for the year ended December 31, 2011 and our Form 10-Q for the quarter
ended June 30, 2012. Any information on the Company's website or any other
website is not a part of this press release. 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
Investor Relations Contact:
Company Contact: CCG Investor Relations
Cleantech Solutions International, Inc. Mr. Crocker Coulson,
Ms. Wanfen Xu, Chief Financial Officer
Phone: +1-646-213-1915 (New
Web: www.cleantechsolutionsinternational.com email@example.com
SOURCE Cleantech Solutions International, Inc.
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