|By PR Newswire||
|October 16, 2012 02:00 AM EDT||
ZURICH and BAODING, China, Oct. 16, 2012 /PRNewswire-FirstCall/ -- 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 announced the formal establishment of its regional headquarters in Zurich, Switzerland. The objective of this strategic move is to incorporate the Company's core European business activities within the framework of the newly founded Yingli Green Energy International AG. For the purpose of centralising key decision-making functions Yingli Green Energy has chosen the Swiss city of Zurich, an internationally reputed financial and economic center which is located in the heart of Europe.
"Yingli Green Energy will be able to consolidate its strong position in Europe through full integration of operations and strategic business activities on a pan-European level across all subsidiaries in core markets," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
While Mr. Karsten Mosch will be succeeding Mr. Darren Thompson as the new Head of Yingli Green Energy Europe GmbH, Mr. Darren Thompson has been appointed to Managing Director of Yingli Green Energy International AG.
"Through our new regional headquarters, the Company will be able to take advantage of centralized procurement, operational efficiencies and optimization of cash management. Whilst we will centralize activities that offer efficiency improvements, we will balance this with continued investment in localization in key markets where we can be close to our customers and at the same time adapt to the different market conditions and cultures," said Mr. Darren Thompson,.
About Yingli Green Energy
Yingli 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. In August 2012, Yingli Green Energy reached a balanced vertically integrated production capacity of 2,450 MW per year, from facilities located in Baoding, Haikou, Tianjin and Hengshui, respectively. Yingli Green Energy distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China, Japan 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.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yingli Green Energy's control, which may cause Yingli Green Energy's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Yingli Green Energy's filings with the U.S. Securities and Exchange Commission. Yingli Green Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact:
Director, Investor Relations
Yingli Green Energy Holding Company Limited
Tel: +86 312 8929787
In the Americas:
Head of Marketing
Yingli Green Energy Americas
Tel: +1 603 5915812
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
SOURCE Yingli Green Energy Holding Company Limited