Relocates European Headquarters from London to Schaffhausen, Switzerland as
Part of Strategic Initiative to Solidify Market Leadership Position
SCHAFFHAUSEN, Switzerland and WUXI, China, May 12 /PRNewswire-Asia/ --
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's leading manufacturer
of crystalline silicon photovoltaic (PV) modules, announced today it intends
to double its sales and marketing team in Europe over the next three to six
months. Suntech also announced it has relocated its European headquarters from
London to Schaffhausen, Switzerland as part of its ongoing strategy to
centralize regional operations and broaden the level of local service and
support to its rapidly expanding European customer base.
Dr. Zhengrong Shi, Suntech's Chairman and CEO, said, "The European market
represents close to 80% of our business and has the potential to grow
significantly in the coming years. Suntech has already established very mature
and capable sales, technical and support teams across Europe, however, we are
committed to increasing this investment to ensure that our customers have the
best support available. We plan to double the size of our European team over
the next three to six months."
Dr. Shi added, "Schaffhausen's proximity to key, established solar markets,
such as Germany, France and Italy, and to nascent markets in Greece, Portugal
and the countries of Central Europe, is ideal for Suntech as we enhance
localized service and support for existing and prospective customers. Its
well-regarded, internationally experienced workforce and reputation as a
global financial center should also serve us well as we move to further
penetrate European demand for solar."
Jerry Stokes, Suntech Europe's Vice President of Strategy and Business
Development, said, "We spent considerable time researching the best location
for our European headquarters and were very impressed with the support we
received from the Canton of Schaffhausen. The central location and excellent
transport infrastructure -- with reliable rail, road and air links -- were
also key factors in our decision."
"The Swiss Government recently introduced an incentive program for PV and
we will be aiming to quickly secure a leading market position there as we have
elsewhere in Europe," added Mr. Stokes.
As part of the European expansion initiative, Suntech is looking to
enhance its European based team with a broad range of experienced
professionals with expertise in: sales, marketing, technical customer service,
and product management. Interested candidates should email applications to:
firstname.lastname@example.org or visit About Us/Careers on the Suntech website,
http://www.suntech-power.com , for further details.
Suntech's new European headquarters address and contact details are:
Suntech Power International Ltd.
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 Fotowatio. With
regional headquarters in China, Switzerland and the United States 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
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 Suntech's ability to double the size of its team in Europe,
further penetrate European demand for solar and establish a leading market
position in Switzerland. 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 more information on Suntech, 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)
Suntech Power International Ltd.
Vice President of Strategy and Business Development
SOURCE Suntech Power Holdings Co., Ltd.
/CONTACT: In China: Rory Macpherson, Investor Relations Director of
Suntech Power Holdings Co., Ltd., +86-21-6288-5574, email@example.com; or
In the United States: Sanjay M. Hurry, Vice President of The Piacente Group,
Inc. (Investor Relations Counsel, Suntech), +1-212-481-2050,
firstname.lastname@example.org; or In Europe: Jerry Stokes, Vice President of Strategy and
Business Development of Suntech Power International Ltd., +41-52-632-0091,
/Web site: http://www.suntech-power.com/
CO: Suntech Power Holdings Co., Ltd.
ST: China, Switzerland
IN: OIL ENV CPR UTI
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4476 05/12/2009 08:00 EDT http://www.prnewswire.com