China Wind Systems Inc (CWSI.OB) Reports First Quarter 2008 Results
China Wind Systems Inc (CWSI.OB) manufactures and sells industrial equipment for use in the textile and energy industries in China. Since August 2007, the company has shifted its strategy to focus on the growing wind industry in China. It has begun to supply high-precision rolled rings to companies in the wind power industry through its subsidiary, Huayang Electrical Power Equipment. China Wind Systems has begun to make progress in this transformation to a wind energy company. In the 1st quarter 2008, the revenues generated from the sale of high precision rolled rings for the wind and electrical power industries climbed…