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 confirmed CNPV's commitment to Solar PV growth in the United States of America to all of CNPV partners by utilizing qualified, 3rd country, non tariff-exposed cells, to ensure that our modules, manufactured here in CNPV facility in Dongying, will continue to provide the quality, longevity, and power harvesting capability upon which you have become dependent, and that these same modules will be exempt from the onerous tariff conditions.
By now we are sure you will be fully informed of the most recent ruling on import tariffs into the USA imposed upon Chinese manufactured solar PV modules.
This ruling, while not directly supporting solar PV growth for ourselves, was not unforeseen. CNPV has been prudent in a number of ways to mitigate the effects anticipated by these cross border penalties.
In the first instance, we did not ship excessive volume to the USA once the preliminary announcements surfaced, and to that end, we have neither exposed yourselves or CNPV to retrospective penalties which would need to be financed going forwards. More importantly we have embarked on a series of activities, including utilizing qualified, 3rd country, non tariff-exposed cells, to ensure that our modules, manufactured here in CNPV facility in Dongying, will continue to provide the quality, longevity, and power harvesting capability upon which you have become dependent, and that these same modules will be exempt from the onerous tariff conditions.
We at CNPV pride ourselves on offering exemplary customer service, with rapid activity and responses being at the heart of our methodology. In this case, the transitional exercise to overcome the duty penalties has occurred behind the scenes, to ensure that you, our valued partners can proceed without caution in further establishing growth in what has become a potentially more commercially difficult geographic region.
The price points within which we have historically operated will require a modicum of change; however these variances are still within our capabilities to overshadow other supplies with the value added from ownership and utilization of CNPV modules, and allow us to continue to increase our market penetration deploying the skills and methodologies we already have at our disposal. While others may see these events as a problem, here at CNPV, we truly believe our offering will now be even more favorably received by our end users as they seek to maximize the profit return for every cent spent. I will be calling you all, individually, in the coming days to more fully explore the timing of our growth in the coming months.
Dear partners, whatever the future may bring, CNPV is determinedly committed to further developing the USA market arena, passionate about supporting you in this time of upheaval and uncertainty, and excited about the future rewards that together we can generate.
We believe that 2012 will be another interesting year, with further exciting obstacles to be overcome by the judicious use of our strengths and knowledge in providing market leading value for the end user. I am sure you will agree; we have the ability to demonstrate true differentiation, and to place our partners, using CNPV's portfolio, into the "Real Value Creators" class, and away from the commodity sales arena.
CNPV's competitive advantages include leadership in client support, long term warranties backed by third party insurance, and the highest return on capital invested in PV solar modules. This unique combination of features allows the client product specification process to be effortless.
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. CNPV 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
Scott Zhang-Investor Relations,