CHANGZHOU, China, May 15 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited (NYSE: TSL; ‘”Trina Solar” or the “Company”), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, founded in 1997, today announced that the Company has signed a long-term polysilicon supply agreement with Jupiter Corporation Ltd., an affiliate of DTK Industries (Qingdao) Co., Ltd. (collectively, “Qingdao DTK”).
Under this agreement, Qingdao DTK will supply Trina Solar with virgin polysilicon sufficient to produce approximately 650 MW of solar modules in aggregate over six years. Delivery of polysilicon at predetermined prices is expected to start in the third quarter of 2009.
“This agreement marks another milestone in Trina Solar’s silicon procurement strategy. Through this new agreement with one of the leading emerging polysilicon producers, Trina has taken steps to further secure its long-term procurement needs while reducing the long-term cost of solar energy,” said Jifan Gao, Trina Solar’s Chairman and Chief Executive Officer. “This agreement will provide a significant portion of our production needs at favorable terms. Qingdao DTK’s forward thinking management and advantageous positioning will ensure the success of this agreement.”
“We are looking forward to our cooperation with Trina Solar that will help build a cleaner environment for future generations,” said Indi Sohal, CEO of Qingdao DTK. “We share Trina’s vision to expand the solar industry and make it the premier renewable energy choice. Qingdao DTK is excited to support and be a part of Trina Solar’s vision to help build the Solar Industry.”
This long-term polysilicon supply agreement will enhance the Company’s raw material supplies to strengthen its position as a leading global PV module manufacturer. The addition of Qingdao DTK as a polysilicon supplier shall further diversify Trina Solar’s overall polysilicon sourcing as well as increase its flexibility to respond to changing market conditions.
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co. Ltd., is a well recognized manufacturer of high quality modules and has a long history as a solar PV pioneer since it was founded in 1997 as a system installation company. Trina Solar is currently one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline ingots, wafers and cells to the assembly of high quality modules. This integrated value chain helps to ensure that high quality products can be delivered to its end customers around the globe, including a number of European countries, such as Germany, Spain and Italy. Trina Solar’s solar modules provide reliable and environmentally-friendly electric power for residential, commercial, industrial and other applications worldwide. For further information, please visit Trina Solar’s website at http://www.trinasolar.com .
About Jupiter Corporation Ltd. and DTK Industries (Qingdao) Co., Ltd.
Jupiter Corporation Ltd. and DTK Industries (Qingdao) Co., Ltd. are wholly European owned and operated companies belonging to the Sohal Family. Affiliate companies include Chinese manufacturing plants and European construction companies, uniform supply to the service industries and managed services for multinationals in Europe. For more information contact: www.dtk-global.com or email indi@dtk-global.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. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, Trina Solar’s ability to raise additional capital to finance its activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company’s ability to protect its proprietary information; general economic and business conditions; 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 companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
Trina Solar Limited
Sean Shao, CFO
Tel: +86-519-8548-2008 (Changzhou)
Thomas Young, Director of Investor Relations
Tel: +86-519-8548-2008 (Changzhou)
Email: ir@trinasolar.com
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
Email: ed.job@ccgir.com
