SolarWorld AG welcomes initiation of antidumping investigation in the U.S.

10.11.2011
Corporate News SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Number: ISIN DE0005108401)

SolarWorld AG welcomes initiation of antidumping investigation in the U.S.
U.S. Department of Commerce starts case against Chinese solar manufacturers

The U.S. Department of Commerce has officially initiated an investigation on the trade practices of Chinese companies in the U.S. market for solar cells and solar modules. As the department communicated on Wednesday (local time), this will involve the examination of potential offences of price dumping as well as subsidies failing to conform to competitive law and the appropriate countervailing measures to be taken.

SolarWorld Industries America Inc., the U.S. subsidiary of SolarWorld AG, had petitioned for the initiation of such investigations with the support of a number of other U.S. manufacturers. The department noted that the participating companies represent the majority of the U.S. production of solar cells and modules on the basis of crystalline silicon in the U.S. as required for the initiation of such proceedings.

'We welcome the initiation of the investigation in the United States. It is all about re-establishing fair competition. We also welcome every cost reduction in the market which makes solar power cheaper and is based on research and innovations. But we have to defend ourselves against artificially low prices that are only possible by Chinese multibillion credits, material subsidies and massive violations of environmental and social standards,' says Dr.-Ing. E. h. Frank Asbeck, Chairman and CEO of SolarWorld AG. 'With massive pressure, China pursues an industrial policy strategy at the expense of the U.S. and Europe. These unfair practices must be stopped not only in the interest of the worldwide solar industry, but also for the benefit of the entire growth industry of environmental technologies.'

The U.S. Department of Commerce announced that it will make its determinations in the year 2012.

About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a worldwide leader in offering brand-name, high quality, crystalline solar power technology. Its strength is its fully integrated solar production. From silicon as the raw material through wafers, cells and modules all the way to turn-key solar systems of all sizes, the group combines all stages of the solar value chain. The central business activity is selling quality modules into the installation and distribution trades and crystalline wafers to the international solar cell industry. Group headquarters are located in Bonn, Germany. The group's largest production facilities operate in Freiberg, Germany and Hillsboro in the U.S. State of Oregon. Sustainability is the basis of the group strategy. Under the name Solar2World, the group supports care projects using off-grid solar-power solutions in developing countries, exemplifying sustainable economic development. Worldwide, SolarWorld employs around 3,300 people. SolarWorld AG has been quoted on the stock exchange since 1999 and today is listed on, among others, the technology index TecDAX and the ÖkoDAX as well as in the sustainability index NAI.

Contact:
SolarWorld AG
Martin-Luther-King-Str. 24
53175 Bonn / Germany
Tel.: +49 228 55920-400
Email: presse@solarworld.de
Internet: www.solarworld.de