January 15, 2013 at 08:00 AM EST
Cleantech Solutions Receives $1.9 Million Follow-on Purchase Orders for Airflow-Dyeing Machines

WUXI, China, Jan. 15, 2013 /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 and dyeing and finishing equipment to the textile industry, today announced that the Company has received a follow-on purchase order for airflow-dyeing machines from its existing domestic customer.

The purchase order provides for Cleantech Solutions to deliver a total of 21 airflow-dyeing machines using the Company's patented production technique, for a total purchase price of RMB 11.8 million (approximately $1.9 million). Pursuant to the purchase order, the Company has received an advance payment of approximately $1.1 million, or 60% of the purchase price, will receive an additional 30% of the purchase price upon installation, and will receive the remaining 10% within three months of installation. Cleantech Solutions expects to deliver the units in February 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 are pleased to see a continuous order flow for our airflow-dyeing machines, which have received strong validation from our long-term customers. Based on our proven track record, we are confident that we will secure more and larger orders in the coming months and that this segment will make a positive contribution to our business performance in 2013," 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

Ms. Elaine Ketchmere, CFA

Tel: +1-310-954-1345

Email: elaine.ketchmere@ccgir.com

Web: www.ccgirasia.com

SOURCE Cleantech Solutions International, Inc.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here