JA Solar Withdraws from Price Undertaking in the European Union
September 28 2016 - 6:06AM
JA Solar Holdings Co., Ltd. (Nasdaq:JASO) (“JA Solar” or the
“Company”), one of the world's largest manufacturers of
high-performance solar power products, today announced its decision
to withdraw from the European Union’s ("EU") price undertaking.
The Company will now serve the European market through its
manufacturing facilities outside of China.
In December 2013, the Council of the European Union imposed
definitive anti-dumping and anti-subsidy duties on solar cells and
panels imported from China. In parallel, the European Commission
accepted a price undertaking, whereby companies were required to
sell solar cells and panels in the EU at a price above a fixed
Minimum Import Price ("MIP"), or else be levied anti-dumping and
anti-subsidy duties. Facing anti-dumping and anti-subsidy
duties of 51.5% and 5.0%, respectively, JA Solar chose to
participate in the price undertaking at the time and has since
demonstrated full compliance with its terms and conditions.
However, JA Solar believes the MIP currently in place no longer
accurately reflects the market environment, as average selling
prices in the EU are already considerably below today’s MIP and
continue to decrease. The Company concluded that it can
remain competitive in the EU markets only if it withdraws from the
price undertaking.
Mr. Baofang Jin, JA Solar’s Chairman and CEO, commented, “We are
committed to fair trade and market competition, as reflected by our
prior participation in, and compliance with, the terms of the price
undertaking. However, we strongly believe that the current
MIP does not reflect the recent price trends in the market.
Selling prices continue to decline, while the MIP has remained
unchanged for the past 18 months. Unfortunately, the current
MIP adversely impacts our ability to execute our business strategy
and hinders the growth of the European solar industry. As a
result, we believe that withdrawing from the price undertaking
agreement is our only choice to be competitive and further our goal
of providing clean energy to the EU. We believe this step
will be beneficial to EU power producers, consumers, and the
environment.”
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of
high-performance solar power products that convert sunlight into
electricity for residential, commercial and utility-scale power
generation. The Company’s standard and high-efficiency product
offerings are among the most powerful in the industry. JA Solar
shipped 4.0 GWp of solar power products in 2015. The Company is
headquartered in Beijing and maintains production facilities in
Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as
Penang, Malaysia.For more information, please visit
www.jasolar.com.
Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: ralph@blueshirtgroup.com
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