Rapidly Expanding Market and Highly Skilled Workforce Enables Company to
Extend its World-Class Manufacturing Closer to Customers
SAN FRANCISCO and WUXI, China, May 11 /PRNewswire-Asia/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), the world's largest crystalline silicon
photovoltaic (PV) module manufacturer, today announced plans to establish
solar energy products manufacturing in the U.S. The Company is currently
exploring opportunities in several states that could be optimal,
cost-effective locations for a production and distribution center as part of
its strategy to create a long-term presence within the U.S.
Dr. Zhengrong Shi, Suntech's Chairman and CEO said, "We believe in the
outstanding long-term prospects of the solar energy market in the United
States, and we will continue to invest in our ability to meet a substantial
portion of that potential growth through in-market manufacturing. A number of
favorable developments have led us to this decision, including the dramatic
growth in utility demand for large-scale wholesale solar projects, the
increasing number of states with incentive programs for customer-owned systems
and the federal government's recent stimulus package, all of which will drive
steady, long-term growth in demand."
"We plan to make a decision within the next six months as to the location
of our U.S. facility based on a variety of criteria, including local
manufacturing incentives and long-term policy commitments that create vibrant
local markets for our products," added Dr. Shi. "Suntech has invested
significant resources in establishing a world-class solar team in the U.S. to
service a national dealer network, provide system design and installation
advice and support, and develop 10MW+ solar projects. Initiating manufacturing
in the U.S. will drive further growth of green jobs and support the ongoing
transition to renewable energy sources."
Using the talent of its KSL-Kuttler subsidiary, which designs and supplies
automation equipment for the printed circuit-board industry, Suntech's
manufacturing team has created a pilot line to develop low cost, proprietary
processes that can be replicated in key countries outside of China, including
the U.S. By locating manufacturing facilities close to its customers, Suntech
can drastically reduce logistics issues and costs, thereby reducing carbon
emissions due to the transport of modules and increasing just-in-time delivery
States or localities with strong economic development initiatives are
encouraged to contact Suntech at email@example.com to provide the
company with more details and arrange for further discussions.
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's leading solar
energy company as measured by production output of crystalline silicon solar
modules. Suntech designs, develops, manufactures, and markets premium quality,
high-output, cost-effective and environmentally friendly solar products for
electric power applications in the residential, commercial, industrial, and
public utility sectors. Suntech's
patent-pending Pluto technology for crystalline silicon solar cells improves
power output by up to 12% compared to conventional production methods. Suntech
also offers one of the broadest ranges of
building-integrated solar products under the MSK Solar Design Line(TM).
Suntech designs and delivers commercial and utility scale solar power
systems through its wholly owned subsidiaries Suntech Energy Solutions and
Suntech Energy Engineering and will own and operate projects greater than 10
megawatts in the United States through Gemini Solar Development Company, a
joint venture with Renewable Ventures, a Fotowatio company. With regional
headquarters in China, Switzerland and San Francisco and sales offices
worldwide, Suntech is passionate about improving the environment we live in
and dedicated to developing advanced solar solutions that enable sustainable
development. 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,
and includes the ability to establish solar energy manufacturing in the U.S.,
the timeframe to make a decision with respect to U.S. manufacturing, the
prospects of the solar energy market in the U.S. and the efficiencies which
may be realized by establishing local manufacturing. 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 law.
For further information, please contact:
Investor Relations Director
Suntech Power Holdings Co., Ltd.
In the United States:
Sanjay M. Hurry
The Piacente Group, Inc. (Investor Relations Counsel, Suntech)
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China: Rory Macpherson, Investor Relations Director of
Suntech Power Holdings Co., Ltd., +86-21-6288-5574, firstname.lastname@example.org; or
In the United States: Sanjay M. Hurry, Vice President of The Piacente Group,
Inc. (Investor Relations Counsel, Suntech), +1-212-481-2050,
/Web Site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd.; Suntech Energy Solutions
IN: OIL ENV GRE
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4354 05/11/2009 08:00 EDT http://www.prnewswire.com