WUXI, Jiangsu, China, Aug. 7 /Xinhua-PRNewswire-FirstCall/ -- China Wind Systems, Inc. (OTC Bulletin Board: CWSI) ("China Wind Systems" or the "Company"), which, through its affiliates, supplies high-precision components to the wind power industry and industrial equipment to the textile industry in the People's Republic of China, announced today that it has initiated its equipment installation for its phase one expansion to increase the Company's forging capacity for the wind power industry.
The Company is currently installing a ring-rolling mill and a 4,500-ton press to produce rolled rings up to 6.3 meters in diameter with cross sections measuring up to 700mm. Upon completion of the equipment installation, the Company will be capable of manufacturing forged products such as rolled rings, flanges and gear rims used in up to five megawatt (MW) wind turbine units, as well as shafts used in 1 MW to 3 MW wind turbine units. The designed capacity of the Company's phase one expansion is 40,000 tons of rolled rings, flanges, shafts and gear rims.
China Wind is on schedule to produce prototype products in September 2008 and to commence production in October. The Company has been provided with technical specifications and blueprints to produce prototypes by its potential customers.
"We are confident that our prototypes will meet with the required standards of our potential customers and we will, in turn, secure sizable contracts for the fourth quarter 2008 and full year 2009," said Mr. Jianhua Wu, CEO of China Wind Systems. "With the addition of our new forging capacity, we look forward to addressing the shortage of wind-power components in the Chinese wind power industry," Mr. Wu said.
About China Wind Systems, Inc.
China Wind Systems, through its affiliates, Huayang Dye Machine and Huayang Electrical Power Equipment, supplies high-precision components to the wind power industry and industrial equipment to the textile industry in China. Currently the Company supplies forged rolled rings less than five meters in diameter for use in wind turbines and other industries. 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 to the wind power and other industries. For more information on the Company, visit http://www.chinawindsystems.com .
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 such 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 Web site ( 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:
Mr. Jay Wang
Senior Vice President, Finance
China Wind Systems, Inc.
Tel: +1-917-838-5277
Email: jay.wang@chinawindsystems.com
Web: http://www.chinawindsystems.com
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgir.com
