CTDC Enters Into a 100MW Solar Cells Purchase Agreement With Time Infrastructure
January 10 2011 - 6:17AM
China Technology Development Group Corporation ("CTDC", the
"Company" or "we") (Nasdaq:CTDC), a growing clean energy group
based in China to provide solar energy products and solutions,
announced today that China Merchants Zhangzhou Development Zone
Trendar Solar Tech Ltd. ("Trendar Solar"), a wholly-owned
subsidiary of CTDC, has entered into a Purchase Agreement for the
Year 2011 (the "Agreement") with Goldpoly (Quanzhou) Science &
Technology Industry Co. Ltd. ("GPS&T"), a wholly-owned
subsidiary of Time Infrastructure Holdings Limited ("Time
Infrastructure"; Stock Code: 0686.HK). Pursuant to the Agreement,
GPS&T agreed to provide Trendar Solar with 100 megawatt of
high-quality polycrystalline solar cells in 2011.
Mr. Sean Liaw, Chief Operating Officer of CTDC, said, "This is
the first purchase agreement we entered with the Goldpoly Group
after signing our strategic cooperation agreement in November 2010.
We believe that the agreement will further ensure the supply of our
raw materials and will strengthen our long-term relationship in the
provision of solar cells. The high-quality solar cells with
competitive price provided by Time Infrastructure enable us to
ensure the high-quality of our PV module and reduce our production
cost, which will in turn increase the profit margin."
Mr. Tim Yiu, Executive Director of Time Infrastructure and
General Manager of the Time Infrastructure's solar business, said,
"CTDC is one of our superior and significant strategic partners.
The signing of the agreement not only reinforces the long-term
relationship between the two parties, but also represents the
customers' recognition towards our products. We will continue to
deliver the highest quality products to customers, and jointly
develop the potential PV market with CTDC."
About China Technology Development Group
Corporation (Nasdaq:CTDC)
Established in 1995, CTDC has been listed on the NASDAQ Stock
Market since 1996. CTDC is a growing clean energy group in China,
which provides solar energy products and solutions. CTDC's major
shareholder is China Merchants Group, a state-owned conglomerate in
China (http://www.cmhk.com).
For more information, please visit www.chinactdc.com
About Time Infrastructure Holdings Limited (stock code:
0686.hk)
Time Infrastructure Holdings Limited ("Time Infrastructure"), as
a leading manufacturer of silicon solar cells in the PRC, is listed
on the main board of the Stock Exchange of Hong Kong with stock
code 0686. Currently, Time Infrastructure operates its solar cells
production in an 180,000 square meter factory with an annual
capacity of 200 MW, located in Quanzhou, Fujian Province. The
information above is provided by Time Infrastructure. For further
details of Time Infrastructure's solar business, please visit the
Company's website at www.goldpoly.com
Forward-Looking Statement Disclosure:
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding:
A) the timing of product, service and solution deliveries; B) our
ability to develop, implement and commercialize new products,
services, solutions and technologies; C) expectations regarding
market growth, developments and structural changes; D) expectations
regarding our product volume growth, market share, prices and
margins; E) expectations and targets for our results of operations;
F) the outcome of pending and threatened litigation; G)
expectations regarding the successful completion of contemplated
acquisitions on a timely basis and our ability to achieve the set
targets upon the completion of such acquisitions; and H) statements
preceded by "believe," "expect," "anticipate," "foresee," "target,"
"estimate," "designed," "plans," "will" or similar expressions are
forward-looking statements. These statements are based on
management's best assumptions and beliefs in light of the
information currently available to it. Because they involve risks
and uncertainties, actual results may differ materially from the
results that we currently expect. Factors that could cause these
differences include the risk factors specified on our annual report
on Form 20-F for the year ended December 31, 2009 under "Item 3.D
Risk Factors." Other unknown or unpredictable factors or underlying
assumptions subsequently proving to be incorrect could cause actual
results to differ materially from those in the forward-looking
statements. The Company does not undertake any obligation to update
publicly or revise forward-looking statements, whether as a result
of new information, future events or otherwise, except to the
extent legally required.
CONTACT: Enquiry:
Company Contact
Selina Xing
PR/IR Department
Tel: +86 755 2669 8709
+852 3112 8461
Email: ir@chinactdc.com
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