NANJING, China, Nov. 14,
2014 /PRNewswire/ -- China Sunergy Co., Ltd. (NASDAQ:
CSUN) ("China Sunergy" or "the Company"), a specialized solar cell
and module manufacturer, today announced that the Company has
signed a memorandum of understanding ("MOU") with Deniz Finansal
Kiralama A.S., ("DenizLeasing"), a
subsidiary of DenizBank Financial Services Group ("DenizBank
Group"), establishing strategic partnership to finance the solar
projects through financial leasing in Turkey.
DenizLeasing was established in 1997 in Istanbul, Turkey, and now carries out
financial leasing transactions for various kinds of investment
goods. According to the MOU, DenizLeasing will facilitate and
provide capital leasing for solar PV projects of up to 100 MW
deploying China Sunergy's solar modules and other components.
"We are delighted to partner up with China Sunergy to mutually
capitalize on the fast-growing solar market in Turkey," said Kahraman Günaydın, General
Manager of DenizLeasing, "Over the past couple of years,
China Sunergy has quickly established technology leadership in
Turkey with its high efficiency
superior quality of products.We believe DenizLeasing's strong brand
and network, combined with China Sunergy's proven capability and
firm commitment to grow its market presence in Turkey, together represent an exciting growth
opportunity for the partnership, as well as, an excellent value
proposition to our joint customers."
Mr. Tingxiu Lu, Chairman and CEO
of China Sunergy, commented, "We are pleased to kick-off a
strategic partnership with DenizLeasing, who, in our view, is a
leading financial leasing company in Turkey. This partnership expands our
go-to-market capabilities in Turkey, which we believe can greatly
accelerate the availability and deployment of our products, enhance
our ability to serve our expanding customer base across
Turkey and the surrounding
markets, as well as extend our overseas financing flexibility. We
look forward to a long and mutually-profitable partnership with
DenizLeasing, one that we hope will be a springboard for broader
collaborations and relationships with other members of the
DenizBank Group."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. (NASDAQ:CSUN) designs, manufactures and
delivers high efficiency solar cells and modules to the world from
its production centers based in China and Turkey. China Sunergy also invests in high
potential solar projects. Founded in 2004, China Sunergy is well
known for its advanced solar cell technology, reliable product
quality, and excellent customer service.
For more information, please visit
http://www.csun-solar.com.
Investor and Media Contacts:
China Sunergy Co., Ltd.
Investor Relations
Phone: + 86-25-5276-6666
Email: IR@chinasunergy.com
Asia Bridge Group Limited
Wendy Sun
Phone: + 86-10-8556-9033
Email: wendy.sun@asiabridgegroup.com
Safe Harbor Statement
This announcement may contain 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 facts in this announcement are forward-looking
statements. These forward-looking statements are based on current
expectations, assumptions, estimates and projections about the
Company and the industry, and involve known and unknown risks and
uncertainties, including but not limited to, the Company's failure
to maintain its listing qualification due to, among other things,
volatility in the Company's ADS price; the Company's ability to
raise additional capital or renew existing bank borrowings as they
become due to finance the Company's activities; the Company's
customers' financial condition and creditworthiness, and their
ability to settle accounts receivables; the effectiveness,
profitability, and the marketability of its products; litigations
and other legal proceedings, including any decisions by the US
International Trade Committee and Department of Commerce on the
petitions filed; the economic slowdown in China and elsewhere and its impact on the
Company's operations; demand for and selling prices of the
Company's products, execution of our strategy to expand into
downstream solar power businesses, the future trading of the common
stock 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; future shortage or availability of the supply of
raw materials; impact on cost-competitiveness as a result of
entering into long-term arrangements with raw material suppliers
and other risks detailed in the Company's filings with the
Securities and Exchange Commission. 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, it cannot assure you that its
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
SOURCE China Sunergy Co., Ltd.