The purchase order provides for Cleantech Solutions to deliver a total of 21 airflow-dyeing machines using the Company's patented production technique, for a total purchase price of RMB 11.8 million (approximately $1.9 million).
Pursuant to the purchase order, the Company has received an advance payment of approximately $1.1 million, or 60% of the purchase price, will receive an additional 30% of the purchase price upon installation, and will receive the remaining 10% within three months of installation. Cleantech Solutions expects to deliver the units in February 2013.
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 to see a continuous order flow for our airflow-dyeing machines, which have received strong validation from our long-term customers. Based on our proven track record, we are confident that we will secure more and larger orders in the coming months and that this segment will make a positive contribution to our business performance in 2013," said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions.
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.
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