China Wind Systems (CWS) Announces $4.5 Million Contract

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09:30:10 am on August 25, 2010

China Wind Systems (CWS) has announced a new $4.5 million contract to supply over 2K tons of forged rolled rings to Luoyang Xin Qiang Lian Bearing by September 30th of this year.  Luoyang makes wind turbine components.

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“We are pleased to enter into a supply contract with Xin Qiang Lian, which further validates our product’s high-quality and performance,” said Mr. Jianhua Wu, Chairman and CEO of China Wind Systems. “We are excited about the growth prospects for wind power in China and continue to position China Wind Systems as a leading component supplier to the rapidly-growing wind power industry.”

Shares of CWS are trading about flat today, but took out support of the 50 day moving average yesterday, so a bit shaky technically.  It may need to retest support around the $4 level in the coming weeks.

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