SHANGHAI, Jan. 24, 2011 /PRNewswire/ -- Hanwha SolarOne
Co., Ltd. (f/k/a Solarfun Power Holdings Co., Ltd., or "Hanwha
SolarOne" or the "Company") (Nasdaq: SOLF), a vertically integrated
manufacturer of silicon ingots, wafers and photovoltaic ("PV")
cells and modules in China, today
expanded upon the significance behind its transition from the
"Solarfun" brand name to its new "Hanwha SolarOne" identity.
Hanwha SolarOne is an independent, global, vertically integrated
PV module manufacturer. Since 2004, as Solarfun, the Company
has built a firm reputation as an established manufacturer, with a
competitive cost structure and broad portfolio of high-quality PV
products. By changing its name to Hanwha SolarOne, the
Company has signaled its new relationship with its largest
shareholder Hanwha Chemical Corporation, which offers significant,
beneficial synergies.
Hanwha Chemical Corporation plans to engage in the production of
high-grade crystalline silicon – the raw material used to produce
silicon ingots, wafers, and cells – and Hanwha Group is currently
engaged in solar project development and financing. Through
its strategic partnerships with Hanwha Chemical Corporation and the
Hanwha Group, the Company will have greater access to both upstream
(crystalline silicon) and downstream (project development and
financing) resources for the manufacturing and distribution of its
high-quality PV modules.
Dr. Peter Xie, President and CEO
of Hanwha SolarOne commented, "Hanwha SolarOne represents a
redefinition of the solar value chain. With enhanced control
of our supply chain through the raw material capabilities of Hanwha
Chemical Corporation, and expanded project development capabilities
through the Hanwha Group, we believe Hanwha SolarOne will be able
to develop a broader PV module portfolio for a wide range of
applications in the utility, commercial, and residential markets.
Our new name – Hanwha SolarOne – reflects our aspiration to be
among the top global PV module manufacturers, while we carry on our
same dedication to providing cost-effective, high-quality products
to our customers."
In September 2010, South Korea-based Hanwha Chemical invested in
Solarfun Power Holdings Co., Ltd., purchasing 49.99% of its
shares.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve inherent risks and
uncertainties and actual results may differ materially from such
estimates depending on future events and other changes in business
climate and market conditions. Hanwha SolarOne disclaims any
obligation to update or correct any forward-looking statements.
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd., f/k/a Solarfun Power Holdings Co.,
Ltd. (NASDAQ: SOLF) is a vertically integrated manufacturer of
silicon ingots, wafers, PV cells and modules. Hanwha SolarOne
offers high-quality, reliable products and services at competitive
prices. Partnering with third party distributors, OEM
manufacturers, and system integrators, Hanwha SolarOne serves the
utility, commercial/government, and residential markets. The
company maintains a strong worldwide presence with employees
located throughout Europe,
North America, and Asia and embraces environmental responsibility
and sustainability with an active role in the voluntary
photovoltaic recycling program. The Company benefits from its
strategic partnership with its largest shareholder Hanwha Group who
is active in solar project development and financing and plans to
produce polysilicon in the future. For more information visit:
www.hanwha-solarone.com.
SOLF-G
For further information, please
contact:
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Investor Contact:
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Paul Combs
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V.P. Strategic
Planning
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Building 1, 18th
Floor
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1199 Minsheng Road, Shanghai,
PRC 200135
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P. R. China
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Tel: 86-21-3852 1533 /
Mobile: 86 138 1612 2768
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E-mail:
paul.combs@hanwha-solarone.com
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Christensen
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Kathy Li
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Tel: +1 480 614
3036
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E-mail:
kli@ChristensenIR.com
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Tip Fleming
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Tel: + 852 9212
0684
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E-mail:
tfleming@ChristensenIR.com
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SOURCE Hanwha SolarOne Co., Ltd.