Yingli Green Energy Holding Company Limited (NYSE: YGE, "Yingli Green Energy" or the "Company"), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers, which markets its products under the brand "Yingli Solar", announced the formal establishment of its regional headquarters in Zurich, Switzerland. The objective of this strategic move is to incorporate the Company's core European business activities within the framework of the newly founded Yingli Green Energy International AG. For the purpose of centralising key decision-making functions Yingli Green Energy has chosen the Swiss city of Zurich, an internationally reputed financial and economic center which is located in the heart of Europe.
"Yingli Green Energy will be able to consolidate its strong position in Europe through full integration of operations and strategic business activities on a pan-European level across all subsidiaries in core markets," said Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
While Mr. Karsten Mosch will be succeeding Mr. Darren Thompson as the new Head of Yingli Green Energy Europe GmbH, Mr. Darren Thompson has been appointed to Managing Director of Yingli Green Energy International AG.
"Through our new regional headquarters, the Company will be able to take advantage of centralized procurement, operational efficiencies and optimization of cash management. Whilst we will centralize activities that offer efficiency improvements, we will balance this with continued investment in localization in key markets where we can be close to our customers and at the same time adapt to the different market conditions and cultures," said Mr. Darren Thompson, Managing Director Yingli Green Energy International AG.