Trina Solar Announced Withdrawal from EU Price Undertaking, To Supply EU Markets through Overseas Manufacturing Facilities

Trina Solar Limited TSL today announced its withdrawal from the European Union ("EU") Price Undertaking ("UT") and will continue to service EU customers through its overseas manufacturing facilities. On December 5, 2013, the European Council imposed anti-dumping ("AD") and anti-subsidy ("AS") duties on solar cells and solar panels imported from China. Subsequently, the European Commission accepted a UT whereby Chinese companies would sell solar cells and solar panels in the EU at a price above a fixed Minimum Import Price ("MIP"). Chinese manufacturers that did not accept the terms of the agreement faced high AD and AS duties, which for Trina Solar were 47.7% and 3.5%, respectively, to be applied for a period of two years beginning on December 6, 2013. At the time, Trina Solar chose to join the UT as a participating company and has duly complied with its terms and conditions.  However, the current interpretations of the UT agreement by EU Commission unfairly limit the Company's growth potential in the European region, and are disruptive to the Company's ongoing global expansion strategy. Furthermore, the EU Commission See full press release