Canadian Solar Issues Statement on Solar Trade Petition

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Nov 07, 2011, 05:00 ET

SAN RAMON, Calif., Nov. 7, 2011 /PRNewswire-Asia-FirstCall/ -- Canadian Solar, Inc., (the "Company," "we" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar companies, today issued a statement in response to SolarWorld Industries America Inc.'s trade complaint.

Canadian Solar is against the petition filed with the U.S. International Trade Commission and the U.S. Department of Commerce by SolarWorld Industries America Inc., as we believe the petition is exaggerated and without merit. We urge the U.S. authorities to put first the interest of the hundreds of thousands of American citizens and businesses who have benefited from affordable solar power either as consumers or workers in the U.S. solar industry. We believe the petition is counter-productive to the continued development of the solar industry, including the multitude of upstream and downstream businesses located in the United States, and to the development of lower priced products needed to make solar power an economically attractive alternative to traditional power sources.

As a Canada-based company with manufacturing facilities in both Canada and China, we have always actively supported free trade, and have always abided by international trade law and fair practices. Canadian Solar is committed to supporting its customers and partners in the United States, to making solar energy even more affordable for American families and businesses, and to further helping the American solar industry become a sustainable, major engine of economic growth.

About Canadian Solar Inc. (NASDAQ: CSIQ)

Canadian Solar, Inc. is one of the world's largest solar companies. As a leading vertically integrated provider of ingots, wafers, solar cells, solar modules and other solar applications, Canadian Solar designs, manufactures and delivers solar products and solar system solutions for on-grid and off-grid use to customers worldwide. With operations in North America, Europe, Australia and Asia, Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar solutions to support global, sustainable development. For more information, visit www.canadiansolar.com.

U.S. offices: 12657 Alcosta Blvd, Suite 130, San Ramon, CA 94583
Telephone: 1-925-866-2700
Fax: 1-925-866-2704

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 the previously disclosed SEC investigation, as well as general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Germany; changes in customer order patterns; changes in product mix; 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; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on May 17, 2011. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

SOURCE Canadian Solar Inc.