GUELPH, Ontario | CANADIAN SOLAR —
Canadian Solar takes note of the European Commission’s decision to withdraw the acceptance of the Company’s Undertaking but confirms its belief that it duly complied with all its terms and conditions.
Despite the arbitrary nature of the Undertaking text that caused interpretation confusion and implementation complications, Canadian Solar believes that it has always conducted all its business in the EU in compliance with the Undertaking.
The Company strongly believes that this decision lacks merit and is arbitrary without giving due consideration to the Company’s cooperation with EU Commission. The Company is currently reviewing its legal options.
The decision by the European Commission will not impact the Company’s second quarter and full year 2015 guidance. Canadian Solar remains well positioned to continue serving all present and future customers in Europe from its Global solar operations.