ZHONGSHAN, China, Jan. 20, 2011 /PRNewswire-Asia/ -- China Ming Yang Wind Power (NYSE: MY) ("Ming Yang" or the "Company"), a leading wind turbine manufacturer in China, today announced that it has successfully hosted its 2011 Ming Yang Wind Power Strategic Supply Chain Conference in Zhongshan, China between January 12 to 15, 2011. Over 160 domestic and international suppliers attended this conference, covering 35 essential areas of wind turbine manufacturing, including electrical and mechanical appliances, composite materials, chemicals and other components.
Under a theme of "Respect, Discretion, Integrity, and Mutual-Benefit", Ming Yang aims to work with its suppliers to further enhance the product quality and cost competitiveness of its wind turbines by pursuing the following objectives:
- To further reduce component procurement costs through bulk purchasing.
- To enhance existing 1.5 MW wind turbine product family and component localization of the new SCD 2.5/3.0 MW wind turbine product family through technology and process optimization.
- To increase the use of innovative financial products to diversify payment options.
"As the wind power equipment industry prepares to enter an era of consolidation after a period of fast growth, it is essential to cement the relationships with our industry partners in the wind power supply chain," said Mr. Chuanwei Zhang, Chairman and Chief Executive Officer of Ming Yang. "We are very pleased with the progress made on our continual cost reduction program of wind turbine components, and the renegotiated prices will be adopted in January 2011. The supply chain conference reaffirms our commitment to establish Ming Yang as one of the top renewable energy equipment suppliers in China."
About China Ming Yang Wind Power Group Limited
China Ming Yang Wind Power Group Limited (NYSE: MY) is a leading and fast-growing wind turbine manufacturer in China, focusing on designing, manufacturing, selling and servicing megawatt-class wind turbines. Ming Yang produces advanced, highly adaptable wind turbines with high energy output and low energy production costs and provides customers with comprehensive post-sales services. Ming Yang cooperates with aerodyn Energiesysteme, one of the world's leading wind turbine design firms based in Germany, to develop wind turbines and share intellectual property rights. Ming Yang's key customers include the five largest state-owned power producers in China, with an aggregate installed capacity accounting for more than 50% of China's newly installed capacity in 2009. For further information, please visit the Company's website: www.mywind.com.cn.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Ming Yang's control, which may cause Ming Yang's actual results, performance or achievements to differ materially from those in the forward- looking statements. Further information regarding these and other risks, uncertainties or factors is included in Ming Yang's filings with the U.S. Securities and Exchange Commission. Ming Yang does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
SOURCE China Ming Yang Wind Power Group Limited