NANJING, China, March 30, 2012 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, is pleased to announce that the Company has begun assembling solar modules in France through OEM cooperation with KDG Energy, a French manufacturer of high quality PV modules. Today, the first order will be delivered to Akuo Energy Group, a leading developer, investor and operator of renewable energy plants across the world.
In October 2011, China Sunergy initiated OEM cooperation with KDG Energy. Both parties entered into a memorandum of understanding in November 2011, under which KDG Energy will manufacture solar modules for China Sunergy in France, under CSUN's brand name. China Sunergy will send the required components to KDG for the fabrication of such modules.
Such modules assembled by KDG Energy for China Sunergy will be labeled as "CSUN Made in France", and will satisfy the following three criteria: that the string of cells, lamination, and flash tests are all carried out in France. In mid-March 2012, KDG Energy officially started the commercial production of "CSUN Made in France" solar modules. Today, the first order of "CSUN Made in France" solar modules was delivered to Akuo Energy Group in Paris.
Mr. Stephen Cai, China Sunergy's CEO commented, "France has always been an important market for us. KDG Energy is well recognized as a high quality, high-tech manufacturer of photovoltaic panels in France. We expect our cooperation with KDG Energy will allow China Sunergy to further develop its business in France and help China Sunergy position itself as a preferred supplier in the entire European market."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilizes crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators and solar power systems for use in China and many other markets. For additional information, please visit http://www.chinasunergy.com.
Media Contacts:
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China Sunergy Co., Ltd. Elaine Li Phone: +86 25 5276 6696 Email: Elaine.li@chinasunergy.com
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Brunswick Group
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Hong Kong Ginny Wilmerding Phone: + 852 3512 5000 Email: csun@brunswickgroup.com | Hong Kong Xiaoxiao Nina Zhan Phone: + 852 3512 5000 Email: csun@brunswickgroup.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 facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; litigations and other legal proceedings, including the ultimate outcome of any decisions by the ITC and DOC on the petitions filed; the economic slowdown in China and elsewhere and its impact on the Company's operations; demand for and selling prices of the Company's products, the future trading of the common stock 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; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the Company's filings with the Securities and Exchange Commission. 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.
