Cleantech Solutions has received an advance payment of approximately $0.4 million, or 20% of the purchase price, will receive an additional 70% of the purchase price upon delivery, and will receive the remaining 10% within six months of delivery. The Company expects to begin delivering the units in September 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 expect strong order flow in our airflow dyeing machine business to continue through the rest of 2013," said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions. "We are in the process of expanding capacity to meet anticipated demand and will begin marketing our new line of after-treatment products to existing customers later this year."
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.
Cleantech Solutions International
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