Cleantech Solutions Appoints Adam Wasserman as Chief Financial Officer

 

WUXI, China, Dec. 18, 2012 /PRNewswire-FirstCall/ -- Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (NASDAQ: CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other clean technology industries, today announced that the Company's Board of Directors appointed Adam Wasserman as its Chief Financial Officer, effective on December 10, 2012, following the resignation of Ms. Wanfen Xu on the same day.

Ms. Xu's resignation did not result from any disagreement with the Company on any matters relating to its operations, policies or practices.

Previously, Mr. Wasserman had served as the Company's Vice President of Financial Reporting since 2008, under the terms of a consulting agreement between Cleantech Solutions and CFO Oncall, Inc., which provides chief financial officer services to various companies. Mr. Wasserman holds a bachelor of science from the State University of New York at Albany and is a member of The American Institute of Certified Public Accountants. He is also a director, treasurer and an executive board member of Gold Coast Venture Capital Association and has been a director of CD International Enterprises, Inc. since January 2010.

"We are pleased to have Adam take a more senior leadership role as he brings a very strong skill set and extensive experience in U.S. GAAP accounting, finance, and capital markets. We believe his experience with U.S. publicly traded companies and his long-term involvement with the Company is a great fit to our current needs," 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. The Company's website is www.cleantechsolutionsinternational.com. Any information on the Company's website or any other website is not a part of this press release.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in "Risk Factors" in our Form 10-K for the year ended December 31, 2011 and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-K for the year ended December 31, 2011 and our Form 10-Q for the quarter ended September 30, 2012. Any information on the Company's website or any other website is not a part of this press release. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Company Contact:

Cleantech Solutions International, Inc.

Mr. Adam Wasserman, Chief Financial Officer

E-mail: adamw@cleantechsolutionsinternational.com

Web: www.cleantechsolutionsinternational.com

Investor Relations Contact:

CCG Investor Relations

Mr. Crocker Coulson, President

Phone: +1-646-213-1915 (New York)

E-mail: crocker.coulson@ccgir.com

Web: www.ccgirasia.com

SOURCE Cleantech Solutions International, Inc.

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