Cleantech Solutions Announces Approval for One-for-Three Reverse Stock Split

Cleantech Solutions Announces Approval for One-for-Three Reverse Stock Split

PR Newswire

WUXI, Jiangsu, China, Sept. 28, 2011 /PRNewswire-Asia-FirstCall/ — Cleantech Solutions International, Inc. (“Cleantech Solutions” or “the Company”) (NASDAQ: CLNT), a manufacturer of metal components and assemblies, primarily for the wind power industry as well as solar and other industries, today announced that on September 25, 2011, the Company received board of director (“the Board”) approval for a one-for-three reverse split of its common stock and a reduction in the number of authorized shares of common stock from 150,000,000 to 50,000,000 and preferred stock from 60,000,000 to 30,000,000.

Cleantech Solutions’ Board approved the Company’s one-for-three reverse split and a reduction in the number of authorized shares to enable the Company to comply with the $1.00 minimum bid price required for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). The Company has a 180-day compliance period ending on March 6, 2012. The Company intends to effect the reverse split if it is necessary in order to meet The Nasdaq Global Market’s price maintenance requirement.

About Cleantech Solutions International

Cleantech Solutions supplies forgings products, fabricated products and machining services to a range of clean technology customers, primarily in the wind power sector. Cleantech Solutions is committed to achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer base. For more information visit our website at http://www.cleantechsolutionsinternational.com. Information contained on our website and any other website does not constitute a part of this press release.

Safe Harbor Statement

This release contains certain forward-looking statements relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as believes, expects or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Companys actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Companys periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in our Form 10-K for the year ended December 31, 2010 and in Managements Discussion and Analysis of Financial Condition and Results of Operations in our Form 10-Q for the quarter ended June 30, 2011. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Company Contact:

Mr. Fernando Liu

Chief Financial Officer

Cleantech Solutions International, Inc.

Tel: +86-137-6134-7367

Email: fol@cleantechsolutionsinternational.com

Web: www.cleantechsolutionsinternational.com

Investor Relations Contact:

Ms. Elaine Ketchmere

CCG Investor Relations

Tel: +1-310-954-1345

Email: elaine.ketchmere@ccgir.com

Web: www.ccgirasia.com

SOURCE Cleantech Solutions International, Inc.

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