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Zhejiang Hangmin to use Cleantech's Airflow Dyeing Machines
26
Aug '11
Cleantech Solutions International Inc, a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other industries, announced that the Company has received a new purchase order from Zhejiang Hangmin Group Limited one of the leading textile companies in China, to supply its energy-efficient airflow dyeing machines for an aggregate amount of RMB14.5 million (approximately $2.3 million).

In March 2011, Cleantech Solutions delivered a sample product order of 9 units to Zhejiang Group for its inspection and approval. Following successful testing and inspection, the Company has received an order to deliver 25 units of its energy-efficient airflow dyeing machines by November 2011. The Company has received an advance payment of RMB 3 million (approximately $469,300). The Company's airflow dyeing machines use air flow as opposed to water in the traditional dyeing process, which results in reduced input costs, fewer wrinkles, less damage to the textile, and reduced emissions. In addition, we are hopeful that the PRC government's stricter environmental protection policies will spur market demand for this product.

"Despite China's restrictive monetary environment which, to a certain extent, discourages capital expenditures in the textile industry, we are pleased to receive a large scale order for our new airflow dyeing machines. It is very encouraging for us to receive positive feedback from Zhejiang Group, a leading textile manufacturer in China," said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions. "We hold a positive outlook for our new airflow dyeing equipment as we believe it meets the PRC's new environmental standards and most importantly enables our customers to achieve operational efficiency through reduced input costs and emissions. We expect to see further growth in sales from our dyeing equipment segment towards the end of 2011 and in 2012 if China relaxes its monetary policy."

Cleantech Solutions is a manufacturer of metal components and assemblies, primarily used in clean technology industries. The Company supplies forgings products, fabricated products and machining services to a range of clean technology customers, primarily in the wind power sector. Cleantech Solutions is committed to achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer base.

Cleantech Solutions International Inc


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