CHANGZHOU, China, Oct. 3 /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, announced today that it has signed an agreement with Meyer Burger AG for the supply of ID cropping, band and wire saws used for the production of its monocrystalline and multicrystalline wafers and cells. The contract, valued over CHF180 million (US$154million), covers equipment and delivery schedule to meet the Company's capacity expansion goals through 2010.
"We are pleased to enter into this supply agreement with Meyer Burger and to work with one of the most successful manufacturers of high-precision machines for slicing silicon into wafers," stated Mr. Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "Both Meyer Burger and Trina Solar share a commitment to the highest level of quality for our products and we look forward to working together in the future."
"We are pleased to be able to support Trina Solar with the latest ID/OD, band and wire saw technology as it expands its wafer capacity and makes progress on its technology roadmap to reduce wafer thickness," stated Peter Pauli, Meyer Burger's CEO. "We expect our subsidiary company Meyer Burger Machinery Shanghai to provide Trina Solar with the necessary level of customer support and quality assurance and we look forward to continue our successful cooperation in the future."
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 manufactures that has developed a vertically integrated business model from the production of monocrystalline 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. Trina Solar successfully completed its initial public offering on the New York Stock Exchange in December, 2006 and its ADSs are traded under the ticker symbol TSL. For further information, please visit Trina Solar's website at http://www.trinasolar.com .
About Meyer Burger Technology AG:
Meyer Burger is a leading supplier of high-precision machines with wire saws, band saws and ID/OD slicing systems for cutting hard and brittle materials such as silicon, sapphire or other crystals into wafers, prisms and other shapes. The company's offering includes various models of high- precision machines, spare parts, wear and tear parts, consumables, regrooving service, process know-how, after-sales service, training and other services. Meyer Burger's machines, skills and technologies are mainly used in the solar industry (photovoltaic), the semiconductor industry and in the optical industry. These three markets all require the thinnest possible wafers of silicon, sapphire or other crystals for the manufacture of solar modules, integrated circuits or high-performance LED's. For additional information please visit http://www.meyerburger.ch/ .
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 the marketability of its products; 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; the Company's ability secure raw material supplies to support its production plans; the Company's ability to operate its solar cell plant efficiently; 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.
Contact:
Trina Solar Limited CCG Elite Investor Relations
Sean Shao, CFO Crocker Coulson, President
Phone: +(86) 519-8548-6752 (Changzhou) Phone: +1-646-213-1915
Thomas Young, Director of Investor Relations crocker.coulson@ccgir.com
Phone: +(86) 519-8548-6752 (Changzhou) Ed Job, CFA
ir@trinasolar.com Phone: +1-646-213-1914
ed.job@ccgir.com
