June 5, 2013 /PRNewswire/ -- Yingli Green Energy Holding Company Limited (NYSE: YGE) ("Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand "
Yingli Solar," today commented on the imposition of preliminary anti-dumping duties by the European Commission targeting solar products originating in
China as well as those shipped from
China. As of
June 6, Yingli Green Energy's products will be subject to a preliminary duty of 11.8% until
August 5. From
August 6 until the final ruling in December, the Company's duty will be set at the level of 37.3%, which is the lowest rate among all Chinese photovoltaic manufacturers, unless there is a negotiated solution between
China and the European Commission.
Under the current European Commission decision, duties would have to be deposited not only on imports of solar products originating in China but also on imports of solar products originating in other countries but shipped from China. When the anti-dumping investigation was initiated, it was defined to target Chinese-origin solar products only.
"We notice with regret that the European Commission insists on imposing preliminary anti-dumping duties on Chinese solar products despite massive opposition from EU member states," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. "Punitive tariffs – no matter at what level – will inevitably lead to higher prices for solar products causing at least the stagnation of the solar industry in Europe. We therefore encourage the prompt resumption of talks between China and the European Commission."
"Yingli Green Energy supports a market-based negotiated solution for this situation as proposed by several European leaders. A negotiated settlement will help to alleviate the current market uncertainty, ensuring European consumers' access to affordable green energy and at the same time sustaining local jobs," said Darren Thompson, Managing Director, Yingli Green Energy International AG.
About Yingli Green EnergyYingli Green Energy Holding Company Limited (NYSE: YGE), which markets its products under the brand " Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Yingli Green Energy currently maintains a balanced vertically integrated production capacity of 2,450 MW per year at its production facilities located in Baoding, Haikou, Tianjin and Hengshui. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China and the United States. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE). For more information, please visit www.yinglisolar.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV