Trina Solar Responds to U.S. Department of Commerce's Announcement of Preliminary Findings in Countervailing Investigations on Certain Solar Energy Products Originating in China
CHANGZHOU, China, June 4, 2014 /PRNewswire/ -- Trina Solar Limited ("Trina Solar" or "Company") notes the preliminary findings on June 3, 2014 by the U.S. Department of Commerce relating to the countervailing duty investigation concerning imports into the U.S. of certain crystalline silicon solar finished products and components from China. Trina Solar is one of the China-based suppliers of these products to the U.S.
According to the Commerce Preliminary Subsidy Rate scheme, preliminary subsidy rates ranging from 18.56% to 35.21% were assigned to the exporters in China. Trina Solar as a compulsory respondent is found to be subject to a preliminary rate of 18.56%, the lowest among the Chinese exporters.
Trina Solar is disappointed by the preliminary findings and believes the allegations made by SolarWorld are contrary to the principles of free and fair trade, and are unfounded. Trina Solar's transactions with all its customers in the United States are in accordance with international trade practices.
As a company, Trina Solar is dedicated to bringing the benefits of clean and innovative solar energy products and services to our customers around the world, and we remain committed to serving our many customers and business partners in the U.S. where we have built a solid and long-standing reputation for high quality products and services. With deploying the strategy prepared for further growing Trina Solar's business in the US market, our competitive cost structure, our in house manufacturing abilities, our brand and quality recognition in the market will provide us the competitive strengths not only amongst the Chinese solar manufacturers but also globally. We believe we will continue to grow our business in US profitably, and we will continue to play an important role in the U.S. market and serve our customers in the region.
In addition to the U.S., Trina Solar continues to see robust demand for its products, driven largely by growth from key geographical regions, particularly China and Japan. At the same time, Trina Solar is able to achieve geographical diversification of its business , as previously noted, its sales from new and emerging markets also continue to accelerate.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) is a global leader in photovoltaic modules, solutions and services. Founded in 1997 as a PV system integrator, Trina Solar today drives smart energy together with installers, distributors, utilities and developers worldwide. The company's industry-shaping position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit www.trinasolar.com.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "will," "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance its activities; the effectiveness, profitability and marketability of its products; our expectations regarding the expansion of the Company's manufacturing capacities; the Company's future business development; the Company's downstream project development and pipeline; the Company's beliefs regarding its production output and production outlook; the future trading of the securities of the Company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
For further information, please contact:
Trina Solar Limited
Teresa Tan, CFO
Phone: + (86) 519-8517-6823 (Changzhou)
Phone: + (86) 10-6566-2256 (Beijing)
Head of Investor Relations
Phone: + (86) 519-8517-6878 (Changzhou)
SOURCE Trina Solar Limited