QualityStocks would like to highlight Cleantech Solutions (NASDAQ: CLNT), 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. Cleantech Solutions is committed to achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer base.
In the company’s news yesterday,
China-based Cleantech Solutions International Inc. announced that it has received a new purchase order to supply 21 units of airflow dyeing machines and related components to a domestic customer. The order provides for Cleantech Solutions to deliver the machines and components for a price of approximately $1.8 million. The company has already received an upfront payment of $540,000 or 30% of the total purchase price. It will receive another 60% of the purchase price upon installation of the machines. The remaining balance will then be paid within three months of installation. Delivery is expected by the end of November 2012.
Cleantech’s airflow dyeing machines use air flow rather than water, which is used in traditional dyeing processes. The company believes the technology used in its air flow units results in reduced input costs for the textile industry, reduced emissions, less damage to the textile and fewer wrinkles. The Chinese government is encouraging the textile industry to replace obsolete machinery with newer energy efficient machinery such as that provided by Cleantech.
The company also received a follow-on purchase order to supply 25 units of solar components to a Chinese solar customer. The order provides for Cleantech to deliver a total of 25 units of various solar components for a total purchase price of $700,000. It expects to deliver the units by the end of August 2012. The company also stated it currently has a backlog of 25 to 30 units of solar products, which it expects to ship by the end of September 2012.
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