LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a vertically integrated manufacturer of photovoltaic (PV) products, issues the following statement regarding the preliminary antidumping duty decision by the US Department of Commerce (DOC).
On May 17, 2012, the DOC announced a preliminary determination regarding the importation of crystalline silicon photovoltaic (PV) cells and modules produced in China. According to the decision, Chinese producers/exporters selling solar cells and modules in the United States will be assessed dumping margins ranging from 31.14% to 249.96%. LDK Solar will be part of the separate rates group, subject to a preliminary antidumping tariff rate of 31.18%.
“LDK Solar has been a leader in the highly-competitive global solar industry since the company’s founding in 2005, and this decision will not change our strategy in developing markets worldwide. LDK Solar reaffirms its commitment to be one of the industry’s top tier companies in the US and global markets now and in the future by creating consistent value for our customers,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
“We will continue to deliver high quality PV products at competitive prices to our customers in the United States. Our team in the US has built strong customer relationships to provide top quality solutions for all US markets – from residential to commercial, utility and off-grid,” added Sam Tong, President and Chief Operating Officer of LDK Solar.
The rulings announced recently by the DOC are preliminary findings. The tariff decision is expected to be finalized by the fall of 2012.