LUXEMBOURG and DONGYING, China, November 2, 2011 /PRNewswire/ --
CNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today responded to allegations made in a trade action against suppliers of Crystalline Silicon Photovoltaic Cells and Modules from the People's Republic China. CNPV was named among other China-based exporters of these products to the United States.
CNPV is in the process of reviewing the antidumping and countervailing duties petition in the United States against Chinese competitors. We are currently reviewing the petition with our legal counsel, and will be prepared to respond vigorously if an investigation is initiated. We reject any allegations in the petition with regard to CNPV's business conduct. CNPV is confident that it has been conducting its business activities in the United States and throughout the world in full accordance with international trade practices and that this fact will be validated within the proceedings. We remain committed to the United States as well as our other markets and to continuing to work with our customers and partners to produce clean and efficient energy solutions.
CNPV Solar Power SA (NYSE Euronext: ALCNP), through its wholly-owned subsidiary, CNPV Dongying Solar Power Company Limited, is a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules that designs, manufactures and supplies highly efficient and cost effective crystalline solar photovoltaic modules. Reliability & longevity are built into our world-class crystalline solar photovoltaic modules, which undergo rigorous internal tests and external certifications (IEC61215, IEC61730, UL, and CE) to ensure peak performance and safety. For further information, please visit CNPV's website at http://www.cnpv-power.com
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, CNPV's ability to raise additional capital to finance its activities; the effectiveness, profitability, and marketability of its products; the future trading of the securities of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Euronext in Paris. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For more information, please contact:
CNPV Solar Power SA
Bypina Veerraju Chaudary, Chief Operating Officer
Ms.Loan Tran, VP Sales & Marketing-Americas
SOURCE CNPV Solar Power SA