SAN RAMON, Calif., September 14, 2011 /PRNewswire-Asia-FirstCall/ -- Canadian Solar, Inc. (the "Company", "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today announced the expansion of its U.S. operations with the opening of a second warehouse facility in Port Elizabeth, New Jersey to provide additional photovoltaic (PV) module storage capacity needed to support the Company's growing business. Arrival of the first shipment of modules is expected in mid-September 2011.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked, "The opening of our second storage facility underscores the success we are seeing in the important U.S. market. Our new warehouse facility on the East Coast will immediately benefit customers by increasing product availability, shortening product transit times and cutting shipping costs to deliver more competitive pricing."
The warehouse itself utilizes solar energy from its PV rooftop mounted system and is located within two miles of the port, reducing drayage costs from port to warehouse.
About Canadian Solar Inc. (NASDAQ: CSIQ)
Canadian Solar, Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.
U.S. offices: 12657 Alcosta Blvd, Suite 140, San Ramon, CA 94583
Telephone: 1-925-866-2700
Fax: 1-925-866-2704
Safe Harbor/Forward-Looking Statements:
Certain statements in this press release 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 the risks regarding the previously disclosed SEC investigation, as well as 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 Germany; 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; 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 May 17, 2011. 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. You 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.
