NANJING, China, Feb 4,
2015 /PRNewswire/ -- China Sunergy Co., Ltd. (NASDAQ: CSUN)
("China Sunergy" or "the Company"), a specialized solar cell and
module manufacturer, today announced that its wholly-owned
subsidiary, China Sunergy (Nanjing) Co., Ltd. ("China Sunergy Nanjing")
has entered into a solar cells supply agreement with Solar Park
Korea ("Solar Park").
Under the terms of the agreement, China Sunergy Nanjing will
provide up to 81MW of the Company's poly-silicon cells for Solar
Park's modules production and downstream applications.
Hyunwoo Park, Chairman and CEO of
Solar Park, said, "We are pleased
to partner with China Sunergy, a proven technology innovator in the
solar industry. After significant due diligence and evaluation of
solar cells providers, we concluded that China Sunergy, with its
ability to deliver the highest quality solar cells at competitive
prices, is the best choice for our needs. We look forward to
closely working with China Sunergy in our global expansion."
Mr. Tingxiu Lu, Chairman and CEO
of China Sunergy, commented, "We
are delighted to be selected as a solar cells supplier to Solar
Park, a leading high-tech enterprise committed to delivering
quality solar modules and related services. We believe that the
combination of our diversified product offerings, continual
conversion efficiency improvements, and worldwide distribution
reach provides a strong platform for both parties' global business
development. We are confident that our collaboration with Solar
Park will prove mutually beneficial."
About Solar Park Korea
Established in 2008, Solar Park Korea specializes in producing
and delivering highest-quality solar modules, and its products have
been certified and reviewed by numerous bodies, including UL, TUV,
VDE, JET, and OST Energy. The company currently has total
production capacity of 600MW and, having secured additional land
for expansion, intends to ramp up capacity to 1.2GW in Korea. Solar
Park Korea's customer portfolio comprises a number of high-profile
solar projects in South Korea,
including Yeongwol Solar Power Plant, Yeongam F1 Race Track, and
Gochang Solar Park.
For more information, please visit the Company's website:
http://www.solarpark-korea.com.
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.
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SOURCE China Sunergy Co., Ltd.