SHANGHAI, July 20 /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
obtained a credit facility in the amount not exceeding RMB6 billion, or an equivalent amount of foreign
currency, from Bank of Shanghai,
Nanjing branch (the "Bank"). The
contract has a term of 5 years. Specific drawdowns against this
facility are subject to internal review and approval by the
Bank.
Gareth Kung, Chief Financial
Officer of Solarfun, commented, "We are pleased to expand our
partnership with Bank of Shanghai
and view this new credit facility as an important component of our
long term financial plan. It provides us with the capital resources
and flexibility to continue to grow our business aggressively in
the future, including capacity expansions, investments in
technology, branding and project financing."
About Solarfun
Solarfun manufactures silicon ingots, wafers, 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 through third-party distributors, OEM manufacturers and
directly to system integrators. Solarfun was founded in 2004 and
its products have been certified to 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.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as
amended, and 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. Forward-looking statements
involve inherent risks and uncertainties and actual results may
differ materially from such estimates depending on future events
and other changes in business climate and market conditions.
Solarfun disclaims any obligation to update or correct any
forward-looking statements.
For further information, please contact:
Solarfun Power Holdings Co.,
Ltd.
|
|
|
|
Paul
Combs
|
|
V.P.
Strategic Planning
|
|
26F BM
Tower
|
|
218 Wusong
Road
|
|
Shanghai,
200080
|
|
P. R.
China
|
|
Tel:
86-21-26022833 / Mobile: 86 138 1612 2768
|
|
E-mail: paul.combs@solarfun-power.com
|
|
|
|
Christensen
|
|
|
|
Kathy
Li
|
|
Tel:
+1 480 614 3036
|
|
E-mail:
kli@ChristensenIR.com
|
|
|
|
Roger
Hu
|
|
Tel:
+86 158 1049
5326
|
|
E-mail:
rhu@ChristensenIR.com
|
|
|
SOURCE Solarfun Power Holdings Co., Ltd.