At Suntech we are committed to upholding a high standard of corporate governance in order to protect the interest of our shareholders and to build business reputation. We aim to maximize our legitimate business interest but at the same time ensure that our business practice is in compliance with applicable laws and regulations and in line with the principle of fair competition. To ensure that all of our employees understand and adhere to these values and principles, we have adopted various charters, guidelines and codes, including the Corporate Governance Guidelines, Audit Committee Charter, Compensation Committee Charter, Corporate Governance and Nominating Committee Charter, as well as Code of Business Conduct and Ethics. To view these charters, guidelines and codes, please click the link on this page.
Combined, these initiatives will enable Suntech to serve more completely the full breadth of U.S. customers, from residential and commercial building owners to utilities and government. In addition, as Suntech continues to invest in cost reduction technologies, the company is also increasing its efforts to seek out those balance-of-system components that best meet customer demand for a truly integrated offering. This vertical integration will enable Suntech to optimize solar system composition and performance, and drive down costs throughout the solar value chain. As a result of these initiatives, Suntech plans to triple sales to the U.S. in 2009. "These initiatives mark a new era of growth for Suntech in the U.S.," said Roger Efird, president of Suntech America. "With the acquisition of EI Solutions and our joint venture with MMA Renewable Ventures, we can now offer a fully integrated solar solution to commercial, utility and government customers. This will provide us with a much closer relationship with t ese customers and enable us to capture a significant portion of the rapidly growing market for larger systems, particularly in the utility sector. At the same time, our rapidly expanding dealer network will allow us to significantly increase our penetration in the residential and small commercial market.""We see the U.S. market as on the cusp of enormous growth," added Steven Chan, chief strategy officer of Suntech. "An increasing number of states have adopted initiatives to promote the expansion of solar and other renewable energy technologies, and there is broad public support across the political spectrum for a new direction in national energy policy that will drive demand for clean technologies. We are poised to meet that demand with the team we have acquired with EI Solutions, which is among the most experienced and highly regarded in the industry, and our strategic alliance with MMA Renewable Ventures, which has an impressive track record of developing America's largest PV plants."