Canadian Solar Responds to WTO Ruling Against US Photovoltaic Import Duties
Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, released this statement on behalf of Thomas Koerner, General Manager of the Company's America's division, in response to the World Trade Organizations ("WTO's") ruling against the United States' imposition of import duties against certain photovoltaic products.
"The WTO's ruling is in alignment with the opinion of Canadian Solar as well as other organizations which represent the majority of the PV industry. The imposition of countervailing and potential anti-dumping duties is not only disruptive to a fair trade business environment but also damaging to an industry which seeks to support the United States' commitment to renewable energy deployment and sustainable development," said Thomas Koerner, President of Canadian Solar, Americas.
"We urge the Government of the United States to reevaluate its preliminary determination of countervailing duties and the misguided trade dispute at large, in order to uphold the universal values of free trade and competiveness which have fostered the environment in which we've witnessed consistent growth, year after year," he added.
"As a Canadian company, we look forward to maintaining and conducting 'business as usual' in the United States market, as we continue to further support and supply a growing US customer base," said Koerner.
About Canadian Solar Inc.
Founded in 2001 in Ontario, Canada, Canadian Solar is one of the world's largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar has an industry leading and geographically diversified pipeline of utility-scale solar power projects as well as a track record of successful solar deployment boasting over 7 GW of premium quality modules installed in over 70 countries during the past decade. Canadian Solar is committed to providing high-quality solar products and solar energy solutions to customers around the world. For more information about our company, products and projects please visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the risks regarding general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of solar grade silicon; demand for solar products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand in our project markets, including Canada, the U.S., Japan and China; changes in customer order patterns; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; continued success in technological innovations and delivery of products with the features customers demand; utility-scale project approval process; delays in utility-scale project construction; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; trade protectionism in Europe, the U.S. and India; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 28, 2014. Although the Company believes that the expectations reflected in its forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's (July 16) date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
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Canadian Solar Inc.
545 Speedvale Avenue
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Naveed Mikhail Hasan, Marketing Communications
Canadian Solar Inc., (Americas)