August 18, 2009 (FinancialWire) — China Wind Systems, Inc.’s (OTCBB: CWSI) board has approved a one-for-three reverse stock split of the company’s common stock. The company said that holders of a majority of stock have consented to the reverse split.

The reverse split is scheduled to become effective by late September 2009. China Wind has around 46.0 million shares of common stock outstanding. After the reverse split becomes effective, the company will have around 15.3 million shares outstanding.

company CEO and chairman Jianhua Wu said, “We have chosen to pursue a reverse stock split as a strategic step to position the company to list our common stock on a major U.S. stock exchange and thereby increase our visibility and grow our institutional shareholder base.”

Wuxi, China-based China Wind Systems supplies forged rolled rings to the wind power and other industries and industrial equipment to the textile and energy industries in China.

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