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Canadian Solar to Renew the Sponsorship With Virtus Pallacanestro

2010-07-31 05:37 1535

For the Second Consecutive Year, the Canadian Solar Module Producer Will Be the Main Sponsor of the Bologna Basketball Team Called "Canadian Solar Virtus"

ONTARIO, Canada, Aug. 2 /PRNewswire-Asia/ -- Canadian Solar (Nasdaq: CSIQ), one of the world's largest solar companies, today announced the renewal of the sponsorship agreement for the second consecutive year with Virtus Pallacanestro, called Canadian Solar Virtus, one of the most important basketball clubs in Italy and Europe.

The agreement between the two companies provides for the exclusive presence of the Canadian Solar brand in all marketing and communications areas of Virtus throughout the 2010/2011 tournament. In its role as main sponsor, Canadian Solar will accompany the Canadian Solar Virtus team to the most important sport events, Championship and Italy Cup, until the end of the basketball season 2010/2011.

"The trust that Canadian Solar has placed in us again marks the natural continuation of a fellowship that for Virtus has been very exciting. Therefore, we are very pleased to start the 2010/2011 season showing off our link to a global leader that has shown its trust in Virtus, in its projects and in the values that it represents in the national and international sports arena," said Claudio Sabatini for Virtus Pallacanestro.

"We are very pleased to be the sponsor of Virtus Pallacanestro also this year. We are looking forward to joint successes both in the sport and business field," commented Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "We have decided to sponsor and support Virtus for their successful past, present and future and for their powerful, energetic and passionate game. We are able to get closer to people and can communicate with them in an innovative and dynamic way."

About Canadian Solar

Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest solar companies. As a leading vertically integrated provider of ingot, wafer, solar cell, solar module 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 http://www.canadiansolar.com

Safe Harbor/Forward-Looking Statements

Certain statements in this press release including statements regarding our expected future shipment volumes, gross and net margins, manufacturing capacities and cell conversion efficiencies, 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 SEC and internal investigations described above 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, including customers of our silicon materials sales; 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 originally filed on June 8, 2009, as amended by its report on Form 20-F/A filed on October 14, 2009. 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.

Source: Canadian Solar Inc.
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