Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic ("PV") manufacturers, which markets its products under the brand "Yingli Solar", today commented on the final countervailing duty ("CVD") and anti-dumping ("AD") rulings by the Department of Commerce regarding the import of Chinese PV cells and modules to the United States.
According to the decision, solar modules produced in China containing solar cells originating from a third country are not subject to CVD and AD tariffs.
Should Yingli Green Energy export modules or cells produced entirely in China to the U.S. they would be part of the separate rates group, and would be subject to an anti-dumping tariff of 15.42% (after the required reduction in the rate to avoid double counting of anti-subsidy tariffs), and an anti-subsidy tariff of 15.24%. These rates are lower than what was proposed in the preliminary decision.
"Throughout this entire proceeding we have defended ourselves and the U.S. solar industry and we are grateful to our loyal customers, suppliers, partners and their employees who have united in our defense," said Robert Petrina, Managing Director of Yingli Green Energy Americas. "We are looking forward to getting back to our daily business, focusing on innovation and outstanding customer support."
Today's decision by the Department of Commerce will be followed by a final decision on the International Trade Commission's investigation by the end of November 2012.
"The potential of the U.S. solar market is vast, and we remain dedicated despite the industry's challenges throughout this past year," said Mr. Liangsheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "We will always be appreciative to the overwhelming majority of the American solar industry who stood behind us and the other respondents."