Canadian Solar Signs a Manufacturing Agreement With Photowatt
JIANGSU, CHINA — January 22, 2007
Source: Marketwire
http://www.marketwire.com/mw/release_html_b1?release_id=205806
Canadian Solar Inc. (“the Company,” or “CSI”) (NASDAQ: CSIQ) announced that it has signed a manufacturing collaboration agreement with Photowatt Technologies, Inc. (www.photowatt.com). Under the agreement, CSI will manufacture certain solar photovoltaic modules for Photowatt on an OEM basis. The production is expected to commence in mid-2007.
Shawn Qu, Chairman and CEO of CSI, commented: “Photowatt has been a key supplier of solar cells and toll manufacturing service to CSI over the past five years. This new agreement expands the scope of our collaboration, allowing us to provide an OEM module manufacturing solution to Photowatt. We believe the deal is also a vote of confidence for CSI from a major vertically integrated solar company and demonstrates the high quality of CSI’s products and the cost effectiveness of our manufacturing process. CSI is on track in executing its OEM business strategy, through which we target to offer manufacturing services to clients worldwide. We expect the OEM manufacturing business to be an important part of our overall strategy, supplementing our CSI branded product lines.”
About Canadian Solar Inc.
Founded in 2001, Canadian Solar Inc. 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 visit www.csisolar.com.