SHANGHAI, China, Apr 4, 2011 (GlobeNewswire via COMTEX) --
JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or "the Company"), one of the world's largest manufacturers of high-performance solar cells and solar power products, today announced that it has entered into a two-year strategic partnership with Jabil Circuit, Inc. ("Jabil") (NYSE:JBL), a leading global electronic product solutions company headquartered in St. Petersburg, Florida. Under the partnership framework, JA Solar expects to supply Jabil with up to 400MW of solar cells over two years, as well as certified module designs to Jabil for the manufacturing of up to 200MW per year of modules with JA Solar cells.
JA Solar intends to provide solar cells and additionally grant Jabil the right to manufacture JA Solar's portfolio of OEM modules at Jabil's solar facilities, including those in Mexico, Poland and China. The companies will further collaborate on marketing and selling JA Solar modules to customers, especially in the U.S.
The duration of the alliance is for two years. Module production is expected to commence in the third quarter of 2011.
"We believe that both JA Solar and Jabil will benefit from this strategic alliance by working together to meet strong global demand for solar products," stated Dr. Peng Fang, CEO of JA Solar. "This alliance demonstrates the great success of our long-term strategy to partner with leading US-based companies in order to enter the rapidly growing US market. By leveraging Jabil's expertise and experience in solar module manufacturing and strong global presence, we can further optimize our cost structure and expand our footprint into strategically important markets, especially in the US."
"We are very pleased to establish this partnership with JA Solar and look forward to working with them to supply top quality solar modules for the next two years and beyond," said Tim Main, Jabil's President and CEO. "We believe these collaborative efforts, combined with the strong global trend toward renewable energy, should result in a very successful relationship."
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products. The company sells its products to solar manufacturers worldwide, who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for residential, commercial, and utility-scale power generation. For more information, please visit www.jasolar.com.
The JA Solar Holdings Co., Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8631
Jabil is an electronic product solutions company providing design, manufacturing and product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 22 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, "JBL." Further information is available on Jabil's website: www.jabil.com.
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SOURCE: JA Solar Holdings Co., Ltd.
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