Yingli Green Energy Comments on U.S. Department of Commerce's Final Decisions on Tariffs for Solar PV Panels Using Non-Chinese Cells
BAODING, China, Dec. 17, 2014 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), world's leading solar panel manufacturer, known as "Yingli Solar," today commented on the final anti-dumping ("AD") and countervailing duty ("CVD") decisions by the U.S. Department of Commerce regarding the import of solar PV panels assembled in China using components from a third country. According to today's decision, Yingli and its affiliates will be considered part of the Separate Rates Group and will be subject to an AD tariff of 52.13%, and a CVD tariff of 38.72%. This is a separate tariff case from the one determined in 2012, which applied to solar PV panels assembled in China using components from China. Yingli is currently subject to a combined AD/CVD rate of 29.18% in that case.
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"We are deeply disappointed in the U.S. Department of Commerce's decision to accept such a broadly defined scope for this ruling, and to levy harsh, protectionist tariffs. It's well known that our customers, partners, and other stakeholders represent the majority of the solar industry and U.S. jobs. We will continue our vigorous defense on their behalf with the hope that national efforts to increase solar power's cost-competiveness are not derailed further," commented Mr. Robert Petrina, Managing Director of Yingli Green Energy Americas.
"Despite the constraints posed by these ongoing legal proceedings, we remain deeply committed to the U.S. market and our customers. This latest decision only perpetuates the uncertainty currently plaguing the American solar marketplace at a time when its growth trajectory is unprecedented. We are determined to prevail, thereby enabling American businesses, homeowners, and utilities to benefit from highly competitive solar solutions," commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
Today's ruling needs to be confirmed by the International Trade Commission, whose decision is expected at the end of January 2015.
About Yingli Green Energy
Yingli Green Energy Holding Company Limited (NYSE: YGE), known as "Yingli Solar," is a world's leading solar panel manufacturer. Yingli Green Energy's manufacturing covers the photovoltaic value chain from ingot casting and wafering through solar cell production and solar panel assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 30 regional subsidiaries and branch offices and has distributed more than 10 GW solar panels to customers worldwide. For more information, please visit www.yinglisolar.com and join the conversations on Facebook, Twitter and Weibo.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of 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," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy 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 further information about Yingli Green Energy, please contact:
In China:
Qing Miao
Vice President of Corporate Communications
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
E-mail: [email protected]
In the Americas:
Helena Kimball
Head of Marketing
Yingli Green Energy Americas Inc.
Tel: +1-603-591-5812
Email: [email protected]
In Europe:
Carolin Staehler
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
Tel: +49 (0) 89 411 123 452
Email: [email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/yingli-green-energy-comments-on-us-department-of-commerces-final-decisions-on-tariffs-for-solar-pv-panels-using-non-chinese-cells-300011022.html
SOURCE Yingli Green Energy Holding Company Limited
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