Cleantech Solutions Receives New Order for Airflow Dyeing Machines and Follow-on Order for Solar Components
Cleantech Solutions International, Inc. (NASDAQ: CLNT) announced that the Company has received a new purchase order to supply 21 units of airflow dyeing machines and related components to a domestic customer.
The purchase order provides for Cleantech Solutions to deliver the airflow dyeing machines and components for a purchase price of RMB11.6 million (approximately $1.8 million). Pursuant to the purchase order, the Company has received an advance payment of $0.5 million, or 30% of the total purchase price, and will receive an additional 60% of the total purchase price upon installation and the balance within three months of installation. Cleantech Solutions expects to deliver the units by the end of November 2012. The Company's airflow dyeing machines use air flow rather than water which is used in the traditional dyeing process. The Company believes that the technology used in its air flow units results in reduced input costs, fewer wrinkles, less damage to the textile, and reduced emissions.
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