Shares Of Trina Solar Lose 2%

Shares of Trina Solar Limited (ADR) TSL were trading lower by more than 2 percent on Tuesday after the company's announcement that it acquired a solar cell factory in the Netherlands. Trina Solar said its fully owned subsidiary, Trina Solar Netherlands, completed the acquisition of all assets from Solland Solar, a solar cell manufacturing company with approximately 2--MW of solar cell manufacturing capacity. Trina Solar will assume operations of the facility and all related assets in the coming weeks. "We are delighted with the successful completion of the transaction and believe that the acquisition enables us to expand the global manufacturing footprint of Trina Solar in an efficient manner," commented Mr. Jifan Gao, Chairman and CEO of Trina Solar. "This investment will be one of the components of our ongoing global expansion strategy. In particular, this new cell facility in Europe, along with our in-house manufacturing capacity in Thailand and other overseas capacities allows us to leverage our global resources so that we can further expand our presence and enhance our competitive edge in overseas markets, especially the U.S. and Europe. We are also pleased to be investing in the Netherlands PV sector, in which we believe we can help create job opportunities for the local area, and support economic development in the region."