CHANGZHOU, China, Jan. 31 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar Limited ('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 long-term supply agreement with Wacker Polysilicon, the polysilicon division of Wacker Chemie AG ('WACKER').
Under this supply agreement, the polysilicon division of Wacker Chemie AG has agreed to supply Trina Solar with high purity polysilicon over a 6-year period beginning in 2009. The overall supply from this contract will allow Trina Solar to produce over 150MW of modules during this period. The financial details and the volumes of the agreement have not been disclosed.
"We are very pleased to enter into this supply agreement with Wacker and to work with one of the largest and most successful polysilicon manufacturers in the industry," stated Mr. Jifan Gao, Trina Solar's Chairman and Chief Executive Officer. 'Both Wacker and Trina Solar share a long-term vision for the solar photovoltaic industry and we look forward to working together to develop this industry.'
This agreement with Wacker is an important achievement for Trina Solar as it secures some of the Company's high quality polysilicon supply requirements for the long-term development of its fully integrated business model. With an extensive portfolio of hyperpure silicon for photovoltaic applications, Wacker ranks among the world's leading manufacturers in this field and Trina looks forward to a long-term cooperation with Wacker.
About Trina Solar Limited
Trina Solar Limited , 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 Wacker Chemie AG
Wacker Chemie AG is a world leader in the chemical industry with over 90 years of history. WACKER's Polysilicon Division is one of the largest producers of hyperpure polycrystalline silicon worldwide. Its product portfolio includes pyrogenic silicas, chlorosilanes and salt. Its polysilicon is used throughout the semiconductor industry and in the growing photovoltaic sector. Reflecting customers' application needs, the division's polysilicon meets extraordinary rigorous quality standards. For additional information, please visit the company's website at http://www.wacker.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 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.
