GUELPH, Ontario, Canada, Sept. 6, 2016 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced the signing of a sales partnership with DM Solar, a wholesale distributor of solar products located in Guadalajara, Mexico.
The solar panels sold through this sales partnership will be used throughout various projects in the residential and commercial markets, primarily for small and medium-scale industrial installations throughout Mexico. The signing of DM Solar as a Canadian Solar distributor signifies a growing trend throughout the Latin American region towards the use of solar panels in the renewable energy industry.
Yusef Kanchi, co-founder and President of Sales for DM Solar, said, "We selected Canadian Solar for several reasons: reliable product quality, strong business ethics, proven financial stability, and established bankability. Not only does Canadian Solar's business philosophy blend well with DM Solar's corporate image, it also evokes a sense of consumer confidence that customers can appreciate."
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "Canadian Solar is proud to sign DM Solar as an authorized distributor in Mexico, and we are confident that they will be pleased with our company's innovative product quality and excellent customer service. We look forward to expanding our business relationship with DM Solar in 2016 and beyond, as the solar industry experiences rapid growth in Latin America."
About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 14 years, Canadian Solar has successfully delivered over 15 GW of premium quality modules to over 90 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the company, visit the Company's website or follow Canadian Solar on LinkedIn.
DM Solar is a wholesale distributor of solar products located in Guadalajara, Mexico. As a premier reseller of renewable energy products in Latin America, DM Solar carries all the necessary components needed to make up a photovoltaic system, including photovoltaic modules, inverters, and more. DM Solar's corporate mission centers around offering solutions and products that harness the environment's natural sunlight to power homes and other facilities. For more information about the company, visit www.dmsolar.mx.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release regarding the Company's expected future shipment volumes, gross margins, business prospects and future quarterly or annual results, particularly the management quotations and the statements in the "Business Outlook" section, are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 20, 2016. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
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SOURCE Canadian Solar Inc.