Trina Solar Announced Withdrawal from EU Price Undertaking and to Supply EU Markets through its Overseas Manufacturing Facilities
Trina Solar Limited (NYSE: TSL) (“Trina Solar” or the “Company”), a global leader in photovoltaic (“PV”) modules, solutions, and services, today announced its withdrawal from the European Union (“EU”) Price Undertaking (“UT”) and will continue to service EU customers through its overseas manufacturing facilities.
On December 5, 2013, the European Council imposed anti-dumping (“AD”) and anti-subsidy (“AS”) duties on solar cells and solar panels imported from China. Subsequently, the European Commission accepted a UT whereby Chinese companies would sell solar cells and solar panels in the EU at a price above a fixed Minimum Import Price (“MIP”). Chinese manufacturers that did not accept the terms of the agreement faced high AD and AS duties, which for Trina Solar were 47.7% and 3.5%, respectively, to be applied for a period of two years beginning on December 6, 2013. ….