Trina Solar Limited (NYSE: TSL) (“Trina Solar” or the “Company”) offers the following statement regarding the final determination of antidumping and countervailing duties (AD/CVD) announced today by the U.S. International Trade Commission (the “ITC”) in the AD/CVD investigations of imports of crystalline silicon photovoltaic cells into the United States from China.
The ITC announced today its determination that these imports caused “injury” to the U.S. domestic industry. The ITC today also made negative findings with regard to critical circumstances in this investigation. This means that there will be no retroactive duties imposed on Trina Solar. As a result of the ITC’s affirmative determination, the DOC will issue antidumping and countervailing duty orders on imports of these products, applying the AD/CVD rates applicable to Trina Solar’s imports into the United States announced by the DOC on October 10, 2012.
Trina Solar is currently evaluating whether it is necessary and prudent to appeal these final determinations issued by the ITC.
“We are disappointed by the Commission’s vote to impose protectionist trade measures, which we believe may slow solar-related investments in the United States and delay affordable market access to our most efficient cell technology-based products,” said Jifan Gao, Chairman and Chief Executive Officer of Trina Solar. “As announced previously, we are prepared for this outcome and will continue to abide by our contractual commitments. This will not affect the offering of product lines that are not subject to these duties.”
“We are most thankful for the support and loyalty of our U.S. customers and project and business partners over the past year,” said Mark Mendenhall, President of Trina Solar Americas. “We remain committed to expanding our opportunities in the United States and throughout the Americas by offering our customers products, solutions and services to help them achieve their goals.”
To effectively serve its expanding business within and outside the United States, the Company will continue to use the headquarters of its Americas operations located in Silicon Valley to evaluate commercial partnership opportunities in order to accelerate the delivery of innovative, technology-driven products and solutions and to lower the cost of clean, solar-produced power.
