CHANGZHOU, China, July 7, 2015 /PRNewswire/ -- Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a global leader in photovoltaic ("PV") modules, solutions, and services, today announced that its cooperation with a local Malaysian partner, an original equipment manufacturer (OEM), to develop 500MW of solar module capacity is on track and the local partner has shipped modules to the Company as scheduled. Moreover, the Company's goal of producing 400MW of solar modules this year as a part of this cooperation remains unchanged. The cooperation is part of Trina Solar's geographical diversification strategy, and is in line with the Company's asset-light strategy to localize production in various key markets that the Company believes have promising solar demand.
Jifan Gao, Chairman and CEO of Trina Solar commented: "The cooperation with our Malaysian partner is a key part of our localization strategy in Southeast Asia, and we are pleased to announce that it has been progressing smoothly. Our Thailand facility is also on track to commence production in late 2015 or early 2016, which will add an additional 500 MW of module and 700 MW of cell production capacity to our production capabilities. Both of these facilities will allow Trina Solar to meet growing global demand for PV modules and have cost-effective manufacturing bases with close proximity to fast-growing emerging markets. We will continue to build a flexible, capital efficient manufacturing model in more diverse and cost efficient countries. We will look for areas where we can integrate proprietary manufacturing, OEM, capacity leasing, and outsourcing to expand our capacity worldwide and ensure that we are able to quickly respond to market trends. Furthermore, our industry leading position and ability to optimize resource allocation globally have positioned us well-ahead of our competition as the solar industry is undergoing a period of consolidation. We remain committed to our asset light business model and we are confident that all of these measures are helping us build a solid foundation as we transform into a world-class solar system developer."
About Trina Solar Limited
Trina Solar Limited (NYSE:TSL) is a global leader in photovoltaic modules, solutions and services. Founded in 1997 as a PV system integrator, Trina Solar today drives smart energy together with installers, distributors, utilities and developers worldwide. The company's industry-shaping position is based on innovation excellence, superior product quality, vertically integrated capabilities and environmental stewardship. For more information, please visit www.trinasolar.com.
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, the Company'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 Company's ability to operate as a public company; the period of time for which the Company's current liquidity will enable the Company to fund its operations; general economic and business conditions; demand in various markets for solar products; 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 Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or 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 such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
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SOURCE Trina Solar Limited
Trina Solar's Cooperation with its Malaysian Partner Remains on Schedule