NANJING, China, Feb. 14, 2012 /PRNewswire-Asia/ -- China Sunergy Co., Ltd. (Nasdaq: CSUN) ("China Sunergy" or the "Company"), a specialized solar cell and module manufacturer, today announced the execution of a 50 MW sales contract with Bull PowerTech GmbH ("Bull PowerTech"). The contract is for projects in Europe, and the shipment is expected to be fully completed by the end of 2012.
Bull PowerTech GmbH, a 100% owned subsidiary of Bull Holding AG, is a renewable energy company with a focus on photovoltaics. Founded in 2006 and headquartered in Lenzing, Austria, Bull PowerTech plans and installs large solar parks and works with leading suppliers to create turn-key solar kits with individually coordinated components. Widely known in the European market, Bull PowerTech has built up a high profile and stable customer base.
"We are highly satisfied with China Sunergy's product quality, technologies and services after visiting their manufacturing plants," said Manuel Thaler, founder and COO of Bull Holding AG. "We only work with first class manufacturers with the best technologies and under the strictest quality controls. By partnering with China Sunergy, we are confident that we are able to meet the needs and requirements of our demanding clients."
Stephen Cai, CEO of China Sunergy, commented: "We are happy to start the year with this high volume contract. Bull PowerTech is just the type of reputable and creditworthy customer that we most like to work with in the PV industry. We value this relationship and will seek more opportunities to cooperate with Bull PowerTech to expand our market share in the future."
About China Sunergy Co., Ltd.
China Sunergy Co., Ltd. is a specialized manufacturer of solar cell and module products in China. China Sunergy manufactures solar cells from silicon wafers, which utilize crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect, and assembles solar cells into solar modules. China Sunergy sells these solar products to Chinese and overseas module manufacturers, system integrators, and solar power systems for use in various markets. For more information, please visit our website at http://www.chinasunergy.com.
Investor and Media Contacts:
China Sunergy Co., Ltd.
Phone: + 86 25 5276 6696
Phone: + 852 3512 5000
Xiaoxiao Nina Zhan
Phone: + 852 3512 5000
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts in this announcement are forward-looking statements. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and the industry, and involve known and unknown risks and uncertainties, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; litigations and other legal proceedings, including the ultimate outcome of any decisions by the ITC and DOC on the petitions filed; the economic slowdown in China and elsewhere and its impact on the Company's operations; demand for and selling prices of the Company's products, the future trading of the common stock of the Company; the ability of the Company to operate as a public Company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; future shortage or availability of the supply of raw materials; impact on cost-competitiveness as a result of entering into long-term arrangements with raw material suppliers and other risks detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
SOURCE China Sunergy Co., Ltd.