BAODING, China and SYDNEY, July 6, 2012 /PRNewswire-Asia/ -- Yingli Green Energy Holding Company Limited (NYSE : YGE ) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand "Yingli Solar", today announced the establishment of its regional headquarters in Sydney, Australia.
In order to strengthen business practices and further business development in Australia, Yingli Green Energy has set up a wholly-owned subsidiary, Yingli Green Energy Australia Pty. Ltd. ("Yingli Australia"). Through this new office, the Company will provide direct sales of Yingli Solar modules and services to customers in this region.
"Australia is one of the most promising markets in the solar industry. We are happy to enhance our local presence by establishing this subsidiary, which will enable us to provide more convenient products and services to Australian customers," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
"Australia is one of the sunniest continents on earth with a great environment and acceptance of solar energy products. Yingli Australia will leverage the Company's global skillset, systems and staff knowledge, particularly from operations in Europe and America, to support the local subsidiaries entry to domestic and commercial solar PV marketplace," commented Mr. Lucas Sadler, Managing Director of Yingli Australia. "In addition to immediate local business opportunities, the new Australian branch will be seeking to distribute Yingli Solar panels to the New Zealand and Pacific Islands region."
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE : YGE ), which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Currently, Yingli Green Energy maintains a balanced vertically integrated production capacity of 1,700 MW per year. Capacity expansion projects of an additional 750 MW in total are under construction in Baoding, Haikou, Tianjin and Hengshui, which are expected to increase the Company's total nameplate production capacity to 2,450 MW by the end of 2012. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE : YGE ). For more information, please visit www.yinglisolar.com.
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:
Director of Investor Relations
Yingli Green Energy Holding Company Limited
In the Americas:
Head of Marketing Communications
Yingli Green Energy Americas Inc.
Marketing Communications Manager
Yingli Green Energy Europe GmbH
Yingli Green Energy Australia Pty. Ltd.
SOURCE Yingli Green Energy Holding Company Limited