QualityStocks would like to highlight Cleantech Solutions International (NASDAQ: CLNT), a developing supplier of forged products and other components to the clean energy industry, with emphasis on wind power and solar energy. The company operates manufacturing affiliates, the Huayang Companies, in Wuxi China. Using precision forging technology the company delivers high quality, large forged rolled rings, yaw bearings, and shafts for use in large-scale windmills.
In the company’s news,
Cleantech Solutions announced that it has received purchase orders for airflow-dyeing machines and related components from two additional domestic customers.
Cleantech is set to deliver a total of 63 sets of airflow-dyeing machines and related components, as required by the first purchase order, for a total purchase price of approximately $1.7 million (RMB 10.4 million). In accordance with the purchase order, Cleantech has received an advance payment of $0.5 million, or 30% of the total purchase price. Upon installation, Cleantech will receive an additional 60%, with the remaining 10% set to be received within three months of installation. The company has stated that it anticipates the delivery of units to be completed in November and December 2012.
Cleantech’s airflow-dyeing machines use flowing air as opposed to water, which is the traditional method used in the dyeing process. The company believes that utilizing this method reduces input costs, creates less damage to textile creating fewer wrinkles, and produces a decreased level of emissions.
Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions, noted, “We are pleased with the steady sales momentum of our airflow-dyeing machines as we continue to attract new customers, which is a strong validation of the increasing need for our products and services within the textile industry. We are committed to growing our customer base alongside the industry-wide replacement cycle favoring energy friendly machines.”
Additionally, Cleantech received a second purchase order from a China-based heavy machinery customer, requesting it supply forged components for flanges. This purchase order totals a purchase price of $0.8 million and requires that Cleantech deliver a total of 36 units. In keeping with the first order, Cleantech received an advance payment of $0.2 million, representing 30% of the total purchase price, and will receive the remaining 70% upon installation. Cleantech has stated that it expects to complete delivery of the units by the end of November 2012.
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