China Wind Systems Receives Order for Solar Cell Manufacturing Equipment
China Wind Systems, Inc.Â has received a conditional purchase contract for about $1 million to supply precision manufactured sub-assemblies or solar cell manufacturing equipment. The purchase contract is conditional upon the successful inspection and acceptance by the customer of sample units by the end of December 2010.
Upon successful inspection and acceptance of the initial components, China Wind Systems has agreed to supply initial production units for the balance of the contract during first and second quarters of 2011.
Jianhua Wu, chairman and CEO of China Wind Systems, said:
“We are excited to announce this new contract and our expansion in the solar market. We are confident we have the technical expertise to fulfill our customer’s requirements. Although the size of this contract is modest, we believe our relationship with our new customer has the potential to evolve into significant additional business. Based on our customer’s current estimates and anticipated order flow, if this initial order proves successful, its potential purchases from China Wind Systems on annual basis during 2011 could total between $12 million and $20 million.”