LUXEMBOURG / DONGYING, PR China, Dec. 9, 2011 PRNewswire-Asia/--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 announced that CNPV strongly support CCCME's Statement on Affirmative Determination of the U.S. International Trade Commission in Preliminary Phase Antidumping and Countervailing Duty Investigations on Crystalline Silicon Photovoltaic Cells from China.
The following is the full content of CCCME’s public statement:
On December 2, the U.S. International Trade Commission (ITC) made its determination in the preliminary phase antidumping (AD) and countervailing duty (CVD) investigations on crystalline silicon photovoltaic (CSPV) cells from China, finding a reasonable indication that the U.S. industry is materially injured by reason of imports from China. The China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) hereby expresses its regret over the determination of ITC.
CCCME holds that the U.S. PV industry is generally profitable and has not suffered any injury from Chinese imports. The petitioner of the AD/CVD investigations intentionally used a narrow description of the product scope, and Chinese respondent companies submitted a large volume of materials to rebut the accusation of the petitioner. However, the U.S. investigation authorities did not carefully review the materials submitted by Chinese respondent companies, and did not listen to their voice either. At the same time, the U.S. domestic industry, represented by the Coalition for Affordable Solar Energy (CASE), and other stakeholders expressed their strong opposition to the investigations as well. Apparently, the U.S. investigation authorities did not carefully consider the opinion of the majority of the U.S. domestic industry. We find that this determination will have negative impact on not only the PV industries in China and the U.S., but also the global PV industries.
CCCME is fully confident in continuing to represent the Chinese PV industries to contest the case vigorously and defend the legitimate interests of the Chinese PV industries in the investigations.
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
Founded in July of 1988, China Chamber of Commerce for Import and Export of Machinery and Electronic Products (hereinafter as CCCME), is a nationwide industrial and nonprofit organization, formed jointly and voluntarily by various economic organizations engaged in manufacturing, import and export and other related activities in machinery and electronic industry. As the only nationwide chamber of commerce in machinery and electronic sector, CCCME has nearly 10,000 members, including both leading enterprises and small and medium-sized companies, representing the industry as a whole. For further information, please visit CCCME's website at www.cccme.org.cn.
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
Sun Zhijun, Director-Legal Affairs,
SOURCE: CNPV Solar Power SA and CCCME