Canadian Solar Officially Opens Cell Manufacturing Subsidiary
JIANGSU, China, April 17, 2007
Source: Canandian Solar Inc, press release
http://phx.corporate-ir.net/phoenix.zhtml?c=196781&p=irol-newsArticle&ID=985952
Canadian Solar Inc. (“the Company”, or ”CSI”) (Nasdaq: CSIQ) celebrated the grand opening of its subsidiary, CSI Cells Co., Ltd. in Suzhou, China on April 15, 2007. The first phase of CSI Cell’s new facility, with an area of about 10,000 sq meters, has an annual capacity of 25 MW, and is expected to be ramped up to 100 MW by the middle of Q4 of 2007.
”The manufacturing of cells is another step in CSI’s move towards vertical integration, and the timing of the new cell line is perfect as we face increased demand for CSI’s modules,” said Dr. Shawn Qu, the CEO of CSI. ”The new cell facility will further strengthen CSI’s competitive edge in the current consolidation of solar industry.”
”It took just 6 months from the ground breaking to the production of first batch of cells. This in itself exemplifies CSI’s ability to execute its strategy to become a top 10 solar player in the world,” said Dr. Shawn Qu. The celebration was attended by Mr. Qinghua Han, Provincial Minister of Economy and Trade, Li Yan, Mayor of Suzhou and other dignitaries, including CSI’s suppliers, customers and financing partners.
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. (CSI) is a standard solar module and specialty solar module and product company, serving customers located in various markets worldwide. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .