WUXI, China, Dec. 3, 2012 /PRNewswire-FirstCall/ -- Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar and other clean technology industries, today announced that the Company's Chairman and CEO Mr. Jianhua Wu and his wife Ms. Lihua Tang have agreed to purchase 157,966 shares of the Company's common stock for a total of $612,903 (RMB3,800,000) at $3.88 a share.
The investment will be primarily used for working capital at Wuxi Huayang Dyeing Machinery Co., Ltd., a subsidiary of Cleantech Solutions.
"With the recent flow of orders for our airflow-dyeing machines, we are optimistic about the ongoing replacement cycle in the textile industry and believe the current sale momentum will continue for the next few quarters, when we expect to see an increasing number of follow-on and larger orders as well as new orders from additional customers," said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions. "The additional capital will help ensure we are well positioned to meet the needs of the anticipated ramp-up in sales and to acquire additional equipment required for our operations."