DGAP-News: SolarWorld AG / Key word(s): Miscellaneous
SolarWorld AG welcomes initiation of antidumping investigation in the
U.S.
10.11.2011 / 13:48
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10.11.2011
Corporate News SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Number: ISIN DE0005108401)
SolarWorld AG welcomes initiation of antidumping investigation in the U.S.
U.S. Department of Commerce starts case against Chinese solar manufacturers
The U.S. Department of Commerce has officially initiated an investigation
on the trade practices of Chinese companies in the U.S. market for solar
cells and solar modules. As the department communicated on Wednesday (local
time), this will involve the examination of potential offences of price
dumping as well as subsidies failing to conform to competitive law and the
appropriate countervailing measures to be taken.
SolarWorld Industries America Inc., the U.S. subsidiary of SolarWorld AG,
had petitioned for the initiation of such investigations with the support
of a number of other U.S. manufacturers. The department noted that the
participating companies represent the majority of the U.S. production of
solar cells and modules on the basis of crystalline silicon in the U.S. as
required for the initiation of such proceedings.
'We welcome the initiation of the investigation in the United States. It is
all about re-establishing fair competition. We also welcome every cost
reduction in the market which makes solar power cheaper and is based on
research and innovations. But we have to defend ourselves against
artificially low prices that are only possible by Chinese multibillion
credits, material subsidies and massive violations of environmental and
social standards,' says Dr.-Ing. E. h. Frank Asbeck, Chairman and CEO of
SolarWorld AG. 'With massive pressure, China pursues an industrial policy
strategy at the expense of the U.S. and Europe. These unfair practices must
be stopped not only in the interest of the worldwide solar industry, but
also for the benefit of the entire growth industry of environmental
technologies.'
The U.S. Department of Commerce announced that it will make its
determinations in the year 2012.
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a
worldwide leader in offering brand-name, high quality, crystalline solar
power technology. Its strength is its fully integrated solar production.
From silicon as the raw material through wafers, cells and modules all the
way to turn-key solar systems of all sizes, the group combines all stages
of the solar value chain. The central business activity is selling quality
modules into the installation and distribution trades and crystalline
wafers to the international solar cell industry. Group headquarters are
located in Bonn, Germany. The group's largest production facilities operate
in Freiberg, Germany and Hillsboro in the U.S. State of Oregon.
Sustainability is the basis of the group strategy. Under the name
Solar2World, the group supports care projects using off-grid solar-power
solutions in developing countries, exemplifying sustainable economic
development. Worldwide, SolarWorld employs around 3,300 people. SolarWorld
AG has been quoted on the stock exchange since 1999 and today is listed on,
among others, the technology index TecDAX and the ÃkoDAX as well as in the
sustainability index NAI.
Contact:
SolarWorld AG
Martin-Luther-King-Str. 24
53175 Bonn / Germany
Tel.: +49 228 55920-400
Email: presse@solarworld.de
Internet: www.solarworld.de
End of Corporate News
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Language: English
Company: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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145677 10.11.2011
DGAP-News: SolarWorld AG welcomes initiation of antidumping investigation in the U.S.
| Source: EQS Group AG