LUXEMBOURG and DONGYING, China, Nov. 2, 2011 /PRNewswire-Asia/ -- CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today responded to allegations made in a trade action against suppliers of Crystalline Silicon Photovoltaic Cells and Modules from the People's Republic China. CNPV was named among other China-based exporters of these products to the United States.
CNPV is in the process of reviewing the antidumping and countervailing duties petition in the United States against Chinese competitors. We are currently reviewing the petition with our legal counsel, and will be prepared to respond vigorously if an investigation is initiated. We reject any allegations in the petition with regard to CNPV's business conduct. CNPV is confident that it has been conducting its business activities in the United States and throughout the world in full accordance with international trade practices and that this fact will be validated within the proceedings. We remain committed to the United States as well as our other markets and to continuing to work with our customers and partners to produce clean and efficient energy solutions.
About CNPV
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Solar Power Company Limited, is a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules. Reliability & longevity are built into our world-class crystalline solar photovoltaic modules, which undergo rigorous internal tests and external certifications (IEC61215, IEC61730, UL, and CE) to ensure peak performance and safety. For further information, please visit CNPV's website at
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,
CNPV's ability to raise additional capital to finance its
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 Euronext in Paris. 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 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:
CNPV Solar Power SA
Bypina Veerraju Chaudary, Chief Operating Officer
Tel: +86-13656-473355,
Email:
Bill Milewski, VP-Investor Relations,
Tel: +86-546-7795555
E-mail:
ir@cnpv-power.com
Ms.Loan Tran, VP Sales & Marketing-Americas
Tel: +1-303-5470331