Solarfun Secures RMB400 Million Credit Facility With Bank of Shanghai
September 03 2009 - 4:35AM
PR Newswire (US)
SHANGHAI, Sept. 3 /PRNewswire-FirstCall/ -- Solarfun Power Holdings
Co., Ltd. ("Solarfun" or "the Company") (NASDAQ:SOLF), a vertically
integrated manufacturer of silicon ingots and photovoltaic (PV)
cells and modules in China, today announced that Jiangsu Linyang
Solarfun Co., Ltd., a wholly owned subsidiary of Solarfun, has
secured a credit facility in the amount of RMB400 million from Bank
of Shanghai, of which RMB300 million will be in the form of a
3-year loan. Peter Xie, President of Solarfun, commented, "The
additional credit facility provided by Bank of Shanghai gives us
greater flexibility as we continue to execute on our growth
strategy and will also allow us to utilize our resources to support
our customers' in terms of project financing. We are pleased to
partner with Bank of Shanghai, especially during a time when many
companies are facing difficulties in securing access to credit, and
greatly appreciate Bank of Shanghai's confidence in the future of
Solarfun." About Solarfun Solarfun Power Holdings Co., Ltd.
manufactures ingots, PV cells and PV modules, and provides PV
module processing services to convert PV cells into PV modules.
Solarfun produces both monocrystalline and multicrystalline silicon
cells and modules. Solarfun sells its products both through
third-party distributors, OEM manufacturers and directly to system
integrators. Solarfun was founded in 2004 and its products have
been certified to meet TUV and UL safety and quality standards.
SOLF-G http://www.solarfun.com.cn/ About Bank of Shanghai Bank of
Shanghai is a commercial bank based in Shanghai, China that was
established on December 29, 1995. For further information, contact:
Solarfun Power Holdings Co., Ltd. Paul Combs V.P. Strategic
Planning 26F BM Tower 218 Wusong Road Shanghai, 200080 P. R. China
Tel: 86 21-6393-8206 / Mobile: 86 138 1612 2768 E-mail: Christensen
Kathy Li Tel: 480 614 3036 E-mail: Roger Hu Tel: 852 2117 0861
E-mail: DATASOURCE: Solarfun Power Holdings Co., Ltd. CONTACT: Paul
Combs, V.P. Strategic Planning of Solarfun Power Holdings Co.,
Ltd., +86 21-6393-8206, Mobile, 86 138 1612 2768, ; or Kathy Li,
+1-480-614-3036, , or Roger Hu, +852 2117 0861, , both of
Christensen, for Solarfun Power Holdings Co., Ltd. Web Site:
http://www.solarfun.com.cn/
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