Trina Solar Announces Strategic Agreement with Q-Cells
CHANGZHOU, China, Feb. 8 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products based in Changzhou, China, announced today that it has entered into a strategic cooperation agreement with Q-Cells AG ("Q-Cells"), the largest independent solar cell manufacturer in the worlAAAAAAAAA> Under this strategic cooperation agreement, Trina Solar will supply Q-Cells with at least 18MW of high-quality monocrystalline wafers which will be processed into high efficiency cells for Trina Solar's module assembly facility. The size of this contract is sufficient for Trina Solar to meet its current 2007 cell requirements while it ramps up its solar cell manufacturing lines. Furthermore, Q-Cells will benefit from this strategic agreement by filling additional capacity in its rapidly expanding cell lines in Thalheim, Germany. In addition to the commercial agreement, Q-Cells will provide technical assistance to Trina Solar during the ramp up of the Trina Solar cell lines.
"We are very pleased to enter this agreement with Q-Cells which will allow us to provide high quality wafers to Q-Cells to be processed into cells," stated Mr. Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. "This cooperation will help us accelerate our learning curve as we ramp up our in house cell plant and develop a strong partnership with a leading solar cell manufacturing 大发网company."
Q-Cells produces silicon-based photovoltaic cells and has advanced its production methods, thus setting industry standards. Trina Solar in turn is in the process of completing its vertical integration with the addition of a 50MW solar cell plant that iAAAApected to be fully operational by mid-2007.
About Trina Solar LimiteAAAAAAAA> Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary Changzhou Trina Solar Energy Co., Ltd., is an integrated solar photovoltaic products manufacturer based in China. The company began research and development efforts in solar products in 1999 and in 2002 it started the system integration business. The company moved into the assembly of solar modules in 2004 as well as the manufacturing of monocrystalline ingots and wafers in 2005 and 2006, respectively. The company's solar modules provide reliable and environmentally-friendly electric power for residential, commercial, industrial and other applications worldwide. The company sells its products to customers around the globe, including a number of European countries, such as Germany, Spain and Italy, where government incentives have accelerated the adoption of solar power. For further information, visit the company's website at http://www.trinasolar.com .
About Q-Cells AG
Founded in 1999, Q-Cells is now the second largest producer of solar cells worldwide. In 2006 the company with its more than 900 employees produced mono- and multicrystalline solar cells with a total preliminary output of 253.1 Megawattpeak (MWp). Q-Cells provides independent solar module producers around the world with high-quality solar cells. Q-Cells also commercializes new and promising PV technologies, either through associates or subsidiaries. For additional information, please visit the company's website at http://www.q-cells.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 the 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 companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in itAAAApectationAAAAAcept as may be required by law. Although the company believes that the expectationAAAApressed 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 LimiteAAAAAAAAAAA> Mr. Sean Shao, CFO
Tel: +86-519-548-6752 (Changzhou)
CCG Elite Investor Relations
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Elaine Ketchmere, Partner
Tel: +1-310-231-8600 x119