NANJING, China, March 2 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN), a specialized solar cell manufacturer based in Nanjing, China, today announced that it has entered into a solar cell sales agreement with asola Advanced and Automotive Solar System GmbH ("asola"), a German solar module manufacturing company. Under the terms of the contract, China Sunergy will supply a total volume of between 10MW and 30MW of solar cells to asola from February to December of 2009.
Pricing and quantity are fixed for the first half of 2009, while the transaction details for the second half are subject to further negotiations.
"We are delighted to be signing another solar cell sales agreement with asola, and believe that this relationship will only strengthen in the coming years," remarked Dr. Ruennsheng Allen Wang, Director and CEO of China Sunergy. "We will continue to actively build strategic partnerships with our existing customers, while pursuing new sales opportunities for our advanced solar cell products."
Reinahrd Wecker, CEO of asola, added, "We are pleased to continue our relationship with China Sunergy as we expand our business into important solar markets, including Italy and the U.S."
About China Sunergy Co. Ltd
China Sunergy Co., Ltd. (Nasdaq: CSUN) is a specialized manufacturer of solar cell products in China. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit http://www.chinasunergy.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. These forward-looking statements and 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 ability to raise additional capital to finance the company's activities; the effectiveness, profitability, and the marketability of its products; the economic slowdown in China and elsewhere and its impact on the company's operations; demand for the company's products; 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 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, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
For further information contact:
FD
Peter Schmidt
Tel: +86-10-8591-1953
Email: peter.schmidt@fd.com
