China Wind Systems, Inc. (CHWY.OB) Lands Big ESR Order
China Wind Systems, Inc., a growing clean-power equipment and components company in China, with offices in New York, announced today that it has signed a preliminary agreement with Shanghai Jing An Metal Materials Ltd. to supply 12,000 tons of electro-slag remelted products (ESR). The agreement calls for China Wind to deliver the product over a two-and-a-half year period, commencing in March 2010 after completion of the company’s ESR production line. The current selling price per ton of the contract’s ESR product is about RMB 20,000 to RMB 28,000 However, the final price is subject to prevailing market rates. The company…