China Wind Systems has ordered the initial machinery for the expansion project, which is expected to be completed by the end of the second quarter of 2010, pending financing. At full capacity, the ESR production line is expected to be able to produce 6,000 tons of products that are currently priced at approximately RMB 30,000 (USD $4,390) per ton. Due to the high performance and specialized nature of ESR applications, the Company believes that it will be able to achieve significantly higher margins for ESR products than for its current forged products.
“ESR technology is utilized to increase the durability and quality of steel material used in high-quality yaw bearings and other high performance components,” commented Mr. Jianhua Wu, Chairman and CEO of China Wind Systems, Inc. “We are confident that by manufacturing these high-end forged products, we will enhance our brand recognition in the industry and increase our profitability.”
China Wind Systems supplies forged rolled rings to the wind power and other industries and industrial equipment to the textile and energy industries in China. With its newly finished state-of-the-art production facility, the Company is expected soon to significantly increase its shipment of high- precision rolled rings and other essential components. For more information on the Company, please visit http://www.chinawindsystems.com.