Expands Commitment to Growing the Italian Solar Market
SAN FRANCISCO and WUXI, China, Dec. 16 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's largest photovoltaic (PV) module
manufacturer, today announced the opening of a sales office in Milan, Italy to
provide enhanced sales and service support to Suntech's Italian customer base.
Jerry Stokes, Suntech's President of Europe, said, "Our new office in
Milan is another step towards the increasing globalization of Suntech's sales
and service capabilities. To complement our core sales competency, we are
building a multi-faceted team across Europe that is in tune with local market
conditions and can respond to customer needs promptly. We believe our
customers appreciate this commitment and see Suntech as a reliable, long term
Mauro Sgherri, Suntech's Director of Sales, Italy, said, "Suntech's
involvement in many of the highest profile solar projects in Europe combined
with a deep dedication to quality and continuous technology improvement
distinguishes Suntech's solar offering in the Italian market. Moreover,
Suntech's industry leading scale, broad product portfolio and timely product
delivery highlight our market leadership. We have established a top tier
customer base of companies that have long term solar plans and have already
built an order book in Italy of over 130 megawatts for 2009. We look forward
to supporting the growth plans of our Italian customers through the stable
supply of high quality solar modules and responsive customer service."
The Italian market is set to grow rapidly in 2009 due to strong support
from the Italian government in the form of solar subsidies that range from
EUR0.36/kWh for large ground-mounted PV systems and up to EUR0.49/kWh for
building integrated PV systems. The high solar irradiation provides excellent
conditions for generating solar energy.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is a world-leading solar
energy company as measured by both production output and capacity of solar
cells and modules. Suntech is passionate about improving the environment we
live in and dedicated to developing advanced solar solutions that enable
sustainable development. Suntech designs, develops, manufactures, and markets
a variety of high-quality, cost-effective and environmentally friendly solar
products for electric power applications in the residential, commercial,
industrial, and public utility sectors. Suntech offers one of the broadest
ranges of BIPV products under the MSK Solar Design Line(TM). Suntech has
sales offices worldwide and is a market share leader in key global solar
markets. For more information, please visit http://www.suntech-power.com .
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements,
including the growth of the Italian solar market, Suntech's ability to ship
over 130 megawatts of solar products to Italy in 2009, ability to support the
growth of Italian customers and ability to provide responsive customer service.
Such statements involve certain risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements. Further information regarding these and other risks is included
in Suntech's filings with the U.S. Securities and Exchange Commission,
including its annual report on Form 20-F. Suntech does not undertake any
obligation to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under applicable
For more information, please contact:
Investor Relations Manager
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc.
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China: Rory Macpherson, Investor Relations Manager of Suntech
Power Holdings Co., Ltd., +86-510-8531-8922, or firstname.lastname@example.org; Or In
the United States: Sanjay M. Hurry, Vice President of The Piacente Group, Inc.,
+1-212-481-2050, or email@example.com /
/Web site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.
ST: China, Italy, California
IN: CPR ENV OIL
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8987 12/16/2008 08:00 EST http://www.prnewswire.com