WUXI, China and OLNEY, Md., Aug. 10 /Xinhua-PRNewswire/ -- Suntech Power
Holdings Co., Ltd. (NYSE: STP), one of the world's leading manufacturers of
photovoltaic (PV) cells, announced that it has established Suntech America,
Inc., a wholly-owned Delaware corporation, as part of a long-term strategy to
establish a major market for its solar modules and solar cells in North
''Suntech is a fast growing player in the solar market, and we are
especially interested in the long-term potential of the US market for
residential and commercial applications,'' commented Dr. Zhengrong Shi,
Suntech's Chairman and Chief Executive Officer. ''Through our US subsidiary,
Suntech America, we intend to establish long-term relationships with US
companies that share our vision of promoting the uses of alternative energy.''
Mr. Roger Efird has been named as President of Suntech America and will
also serve on its board of directors. For the last 20 years, Mr. Efird has
been actively involved in solar module sales, distribution, and marketing.
''Our immediate objectives include the continuation of a regular, dependable
supply of solar modules to our existing customers, the establishment of a
warehouse facility on the west coast, and pursuing new relationships with US
customers,'' said Mr. Efird. ''The long-term solar wafer supply agreement we
recently entered into will better position us to expand our market share in
the United States.''
Suntech Power Holdings Co., Ltd. is a leading solar energy company in the
world as measured by production output of solar cells in 2005. Suntech
provides solar solutions for a green future. Suntech designs, develops,
manufactures, and markets a variety of high quality, cost effective and
environmentally friendly PV cells and modules for electric power applications
in the residential, commercial, industrial, and public utility sectors.
Suntech's customers are located in various markets worldwide, including
Germany, Spain, China and the United States. For more information, please
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the ''safe harbor'' provisions of 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. Among others, statements regarding Suntech's beliefs and
expectations about the expected benefits of the establishment of Suntech
America, Inc. are forward looking statements. 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 annual report on Form 20-F
filed with the U.S. Securities and Exchange Commission. Suntech does not
undertake any obligation to update any forward-looking statement, except as
required under applicable law.
For more information, please contact:
Suntech Power Holdings Ltd.
Ogilvy Public Relations Worldwide
In the United States:
Suntech America, Inc.
Ogilvy Public Relations Worldwide
SOURCE Suntech Power Holdings Co., Ltd
/CONTACT: In China: Cindy Shao of Suntech Power Holdings Ltd.,
+86-510-8534-5000 or firstname.lastname@example.org , Philip Lisio of Ogilvy Public
Relations Worldwide, +86-10-8520-6550, +86-1350-1166-560 or
email@example.com , In the United States: Thomas Smith of Ogilvy Public
Relations Worldwide, +1-212-880-5269 or firstname.lastname@example.org /
/Web Site: http://www.suntech-power.com /
CO: Suntech Power Holdings Co., Ltd
IN: ENV OIL
SU: ASI LIC
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7262 08/10/2006 08:00 EDT http://www.prnewswire.com