China Wind Systems to Supply High Speed Shafts to Nanjing Chang Feng New Energy Holdings

China Wind Systems Inc, a provider of forged metal wares and other industrial equipment to wind turbine industries and other manufacturers in China, declared that it has signed a new  accord with Nanjing Chang Feng New Energy Holdings an electric generator producing business to deliver high-speed shafts.

The signed contract requires China Wind Systems to supply a total number of 1,500 units of high speed shafts to Nanjing Chang. The company supplies the units at a preset price resulting in total revenue of around $3.0 million. The first 500 units will be delivered by the company by the end of the year 2010 and the remaining 1000 units will be delivered in the first half of the financial year of 2011. The high-speed shaft will be used in the wind turbines to transfer the energy generated from the gearbox to the generator to produce electricity.

Jianhua Wu, China Wind Systems, Chairman and CEO, said that the agreement with Nanjing Chang Feng amply proves the status of the company as a quality manufacturer and a favored wind energy parts provider in China. He detailed the growth plans of the company and said that the company will earn a net income ranging between $15.5 million and $16.3 million in the year 2010 and will demonstrate 75% year-over-year growth to achieve $35 million in the current fiscal year.