Manufacturer Reports $7.3 Million in Orders from Wind

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Cleantech Solutions International, Inc., a manufacturer of metal components and assemblies used in in various manufacturing industries, including clean technology, textile dyeing and finishing machines, and oil and gas refineries, recently announced that it received two purchase orders in early December for a total purchase price of approximately $7.3 million from customers in the wind power industry.

Pursuant to one of the purchase orders, Cleantech Solutions will supply shafts to a major wind turbine and electric machinery manufacturer in China, for a purchase price of approximately $4.4 million. Cleantech Solutions has received an advance payment of 20 percent of the purchase price, will receive an additional 70 percent upon delivery, and the remaining 10 percent within three months after delivery —provided that there are no technical problems with the equipment. The company expects to deliver the equipment in May 2015.

Pursuant to the second purchase order, Cleantech Solutions will supply gearbox casings for wind power equipment to one of the largest industrial blower manufactures in China, for approximately $2.9 million. The same payment schedule applies to the second order, which Cleantech expects to deliver in March.

“We believe that the recent push by China’s leadership to support wind power spurred these orders. Although China’s wind power industry still has significant issues to address in terms of system integration, we are cautiously encouraged by the government’s support and hope that it will drive additional demand for our products,” said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions.

— Source: Cleantech Solutions