Trina Solar Limited (NYSE: TSL) (“Trina Solar” or the “Company”), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, today announced its plans to streamline its organizational structure to optimize business operations.
“In order to overcome the challenges of an increasingly competitive landscape in today’s solar PV industry and achieve sustainable development, we are taking company-wide initiatives to streamline our organization. These initiatives include separating our PV module and systems business units and adopting an operating expense reduction program, which will involve some headcount reductions,” said Mr. Jifan Gao, Chairman and CEO of Trina Solar, “These measures will enhance the Company’s agility in responding to the needs of different customers and commercial opportunities. The Company also hopes that these initiatives will allow us to improve our competitiveness and elevate our standing as an industry leader in measures beyond cost leadership.”
“In bringing down our operating expenses, we will become a more competitive organization,” said Mr. Terry Wang, CFO of Trina Solar. “This streamlining is planned to enhance management efficiency. Going forward, our continued success in the solar PV industry will largely depend upon our ability to strategically allocate our resources in the most efficient manner.”