CHANGZHOU, China, Jan. 23 /PRNewswire-Asia-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, today announced the following updates relating to its previously stated operational targets to be reached in the fourth quarter of 2008.
Fourth Quarter 2008 Operational Highlights:
-- Achieved estimated solar module shipment target of between 55 MW and
60 MW
-- Reduced solar module non-silicon manufacturing costs by approximately
$0.13 per watt
"Despite lower module selling prices and margin pressure faced amidst a challenging global economic environment, we are very pleased with our performance delivered in the fourth quarter," said Mr. Jifan Gao, Chairman and CEO of Trina Solar, "The strategy to accelerate the reduction of our
non-silicon production costs without compromising quality has been successful and will continue as a primary focus for Trina Solar beyond 2009. Our capacity utilization efficiency, coupled with our geographical diversification, ability to sell directly to large system integrators and our strong relationship with established customers in their respective market also helped us achieved our shipment target. Additionally, our new warehouse operations, which commenced in November 2008, assisted efforts to achieve our shipment target by shortening order-to-delivery time for our European customers."
About Trina Solar Limited
Trina Solar Limited (NYSE: TSL) 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 one of the few PV manufacturers that has developed a vertically integrated business model from the production of monocrystalline and multicrystalline silicon ingots, wafers and cells to the assembly of high quality modules. Trina Solar’s products provide reliable and environmentally-friendly electric power for a growing variety of end-user applications worldwide. For further information, please visit Trina Solar’s website at http://www.trinasolar.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, the Company’s ability to raise additional capital to finance the Company’s 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 Company 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
Terry Wang, CFO
Tel: +86-519-8548-2008 (Changzhou)
Thomas Young, Director of Investor Relations
Tel: +86-519-8548-2008 (Changzhou)
Email: ir@trinasolar.com
CCG Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Richard Micchelli, Financial Writer
Tel: +1-646-454-4516
Email: richard.micchelli@ccgir.com
