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Stock Market & Financial Investment News

News Breaks
March 20, 2014
07:06 EDTTSLTrina Solar announces favorable arbitration reward of $20.4M
Trina Solar announced it has received $20.4M from a customer in an arbitration settlement involving an outstanding account balance under a solar module purchase agreement. The arbitration panel determined that Trina Solar was entitled to $20.4M, which included the full amount of the outstanding accounts receivable of $17.4M sought by the company, plus sales tax and accrued interests. The arbitration fund was received subsequent to the Company's fourth quarter and full year 2013 earnings results. As a result, the accounts receivable provision of $5.7M for bad debt previously accrued has been reversed in the fourth quarter of 2013. Consequently, related financial numbers previously stated in the company's fourth quarter and full year 2013 earnings release are being adjusted to reflect this event.
News For TSL From The Last 14 Days
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December 17, 2014
06:36 EDTTSLU.S. announces tariffs on Chinese, Taiwanese solar companies, NY Times says
The U.S. announced that it would impose tariffs of 26.7%-78.4% on the imports of most Chinese made solar panels, and tariffs of 11.45%-27.5% on solar cells made in Taiwan, according to The New York Times. Duties of 27.6%-50% will be imposed on modules made in China, the newspaper quoted the Commerce Department as saying. American officials still hope that they can reach a settlement with the Chinese on solar trade issues, the newspaper stated. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
December 8, 2014
06:11 EDTTSLTrina Solar acquires 28% stake in Shuntai Leasing
Trina Solar announced it has entered into a share purchase agreement to acquire a 28% stake in Shuntai Leasing Company Limited. Total registered capital of Shuntai is approximately $50M. Changzhou Hi-tech Jinlong Holdings, a subsidiary of Changzhou Hi-tech Group Co., is the major shareholder of Shuntai. Changzhou Hi-tech Group is one of the largest state-owned companies in Changzhou covering a wide range of businesses including government financing, city development and operation of business enterprises. The group also owns several financing institutions and has raised approximately $5.5B in the past years. Trina Solar has also signed a cooperation agreement with Shuntai to finance the company's downstream projects and solar manufacturing business by leveraging Shuntai's leasing platform.

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