Yingli Green Energy Responds to Energy Conversion Devices' Antitrust Litigation
BAODING, China, Oct. 9, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), the world's largest vertically integrated photovoltaic ("PV") manufacturer, today commented on Energy Conversion Devices Liquidation Trust's filing of an antitrust and unfair trade practice lawsuit in the U.S. District Court for the Eastern District of Michigan.
"We are still reviewing the filing, but at first glance these are baseless claims that seem similar to the Solyndra antitrust case. In both instances, the companies are bankrupt and appear to be blaming others for their own failed thin-film technology and flawed business models. We will continue to aggressively defend ourselves and expect that Yingli will prevail in both cases," said Robert Petrina, Managing Director, Yingli Green Energy Americas.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand "Yingli Solar," is the world's largest photovoltaic module manufacturer in terms of shipments. With 2,450 MW of vertically-integrated annual production capacity, Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20 regional subsidiaries and branch offices and has distributed more than 7,000 MW PV modules to customers worldwide.
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 Yingli Green Energy's control, which may cause Yingli Green Energy'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 Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy 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.
For further information, please contact:
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
In the Americas:
Head of Marketing
Yingli Green Energy Americas Inc.
Public Affairs & Public Relations Director
Yingli Green Energy International AG
Tel: +41 (0) 44 567 6151
SOURCE Yingli Green Energy Holding Company Limited