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China’s Yingli Green Energy has announced plans to open a European regional headquarters in Zurich, Switzerland.
The manufacturer of Yingli Solar products said the move was intended to centralize its operations in 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 Liansheng Miao, Yingli Green Energy’s chairman and chief executive.
Karsten Mosch will take on the role of head of Yingli Green Energy Europe, succeeding Darren Thompson, who has been appointed managing director of Yingli Green Energy International.
“Through our new regional headquarters, the company will be able to take advantage of centralized procurement 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,” Thompson said.
Last week, the US Department of Commerce said exported Yingli Green Energy modules and cells would be subject to an anti-dumping tariff of 15.42% and an anti-subsidy tariff of 15.24% in its ruling on anti-dumping and countervailing duties on Chinese solar manufacturers.