Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company") offers the following statement regarding the preliminary determination of countervailing duties by the U.S. Department of Commerce ("DOC"). On March 20, 2012, a preliminary determination was announced by the DOC in Washington, DC regarding the exportation of Crystalline Silicon Photovoltaic Cells and Modules from China. The ruling establishes a preliminary rate of 4.73% for Trina Solar applicable to the importation of solar cells and modules/panels produced in China. Trina Solar, among other suppliers, was identified as an exporter of these products to the United States market.
The DOC further preliminarily ruled that the scope of the case covered exports to the United States of Chinese made solar cells, as well as modules manufactured outside of China from solar cells produced in China. The DOC clarified that the scope does not cover the exportation of modules manufactured in China from solar cells produced in a third country. Trina Solar continues to take necessary steps in these administrative proceedings while abiding by its contractual commitments.
"Trina Solar is committed to providing high-quality modules and services to the United States market for the long term, where we value our customer base and supply chain business partners," said Jifan Gao, Chairman and Chief Executive Officer of Trina Solar.
"We are working to ensure that our U.S. team will continue to grow our North American business in order to meet our customers' expanding service needs," added Mark Kingsley, Chief Commercial Officer of Trina Solar. "As applicable to the rest of the solar industry, this preliminary determination is only the first step, and is subject to further examination and final determination later this year by the DOC. Moreover, the determination of whether injury has been found or not is dependent upon the International Trade Commission's subsequent ruling."
"As a forward thinking global company, we will continue to assess our options to most effectively serve all of our markets, including our growing business segments in the United States," said Mr. Kingsley.
