China Wind Systems nabs USD 3m deal for high-speed shafts
(ADPnews) - Oct 20, 2010 - Wind power components supplier China Wind Systems Inc. (NASDAQ:CWS) said yesterday it had received a USD-3-million (EUR 2.2m) order to deliver 1,500 high-speed shafts to domestic electric generators maker Nanjing Chang Feng New Energy Holdings.
The company is to deliver the first 500 units, used in wind turbines to transmit power from the gearbox to the generator, before the end of this year, with the rest to be supplied in the first six months of 2011. Each unit is priced at CNY 13,100 (USD 2,000/EUR 1,400).
At the same time, CWS confirmed its forecast for 2010 net earnings of USD 15.5 million-16.3 million, and revenue standing at USD 76.5 million to USD 85 million. The company also said it expects its wind business to grow by 75% on the year to USD 35 million.