(Source: PrimeNewswire)
ORLANDO, Fla., Sept. 25, 2009 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has initiated coverage on China Wind Systems, Inc. (OTCBB:CWSI), a company rapidly evolving into a major supplier of wind turbine components.
Rick Grubbs, CFA, RedChip Research Analyst, reported:
"Originally formed as a provider of heavy machinery such as dyeing and finishing machines to the then growing textiles industry, CWSI entered the wind power component business in 2007 manufacturing key products including precision forged rolled rings for use in ball bearings, flanges, and shafts for use in wind turbines and other industrial applications.
"After a significant expansion of its manufacturing facility in Wuxi, China the Company has set its sights on becoming an important parts supplier to component manufacturers that sell to the wind turbine industry."
Grubbs continued: "Our investment thesis is built around the demand for wind power in China, the governments' initiatives to build out wind farms, the demand for turbines, and the demand for turbine parts. We are initiating coverage on China Wind Systems with a "Buy" rating and a price target of $3.50."
To receive a complimentary copy of the RedChip Visibility Initial Research Report for CWSI, please visit: http://www.redchip.com/about/aboutmain.asp?page=vreport&reportid=193&from=pr9252009
To learn more about China Wind Systems, visit http://www.redchip.com/visibility/investor.asp?symbol=CWSI
About China Wind Systems
China Wind Systems, Inc. through its wholly owned subsidiaries, Wuxi Huayang Dye Machine Co., Ltd. and Wuxi Huayang Electrical Power Equipment Co., Ltd., is engaged in two business segments: the dyeing and finishing equipment segment, in which the Company manufactures and sells textile dyeing and finishing machines, and the forged rolled rings and electric power equipment segment, in which the Company manufactures and sells high precision forged rolled rings for the wind power industry and other industries; and, the Company manufactures specialty equipment used in the production of coal generated electricity.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Paris and Qingdao, China. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors.
