Given the challenging conditions in China's wind energy sector, Cleantech Solutions is actively seeking to diversify its product offering to serve additional clean technology application areas with attractive prospects. The Company's management team is targeting international markets to take advantage of clean energy policies in North America and Europe. The pipeline of order flow from North American customers is strong and the Company expects to see its revenue from sales to the solar industry grow rapidly over the coming quarters. In the longer term, the Company intends to expand its expertise to include other promising clean technology areas such as producing Sapphire Growth Systems for the rapidly growing and government supported LED lighting industry.
China Wind Systems today announced that the Company has changed its corporate name to Cleantech Solutions International on June 13, 2011. In connection with the name change, the Company's common stock will begin trading on the NASDAQ under the new ticker symbol of "CLNT" as of June 16, 2011.
We are confident that sales of our next generation air dyeing machines, which meet the PRC government's environmental standards, will continue to grow. In the coming quarters, we expect to see increased sales of our new dye machine models. We will continue to focus on the wind energy sector and work with our existing and potential customers to maintain our market position despite the difficult pricing environment. We are also pleased with our co-operation with our first customer in the solar industry and are excited about the growing opportunities in the clean energy sector both domestically and internationally.