ENFIELD, Conn., March 2, 2015 (GLOBE NEWSWIRE) -- STR Holdings, Inc. (NYSE: STRI ) ("STR" or the "Company") today announced the appointment of Mr. Kong Weijie as Sales Director for China. Pursuant to the Sales Service Agreement between the Company and Zhenfa Energy Group Co., Ltd, an affiliate of the Company's majority stockholder, STR has appointed Mr. Kong, a Zhenfa Vice General Manager, to manage its sales team in China.
As previously announced, under the Sales Service Agreement, Zhenfa has agreed to assist STR with the marketing, branding and selling of its encapsulant products to Chinese solar module manufacturers.
In this position, Mr. Kong will lead STR's China sales team in expanding the Company's presence in the solar encapsulant market in China.
Mr. Kong has deep experience in varied positions of increasing responsibility. His experience includes multi-disciplinary team building and management, government relations, project management, investment management and high-value contract negotiation. Mr. Kong's positions have included Business Manager of Project Investment Department of Zhejiang Energy Construction Industry Development Co., Ltd., Director Assistant of Investment Department and Vice Director and Director of Construction Savings Division of CECEP Industry Development Co., Ltd., General Manager of Energy Management Division and Director of the Board of CECEP Building Energy Conservation Co., Ltd.
Mr. Kong is currently Vice General Manager of Zhenfa Energy Group Co., Ltd., and General Manager of Zhenfa affiliate Chengdu Photovoltaic Technology Co., Ltd. Mr. Kong holds a Master's Degree from Xi'an Electronic Science and Technology University and a Bachelor's Degree from Xi'an International Studies University.
"I am very pleased to announce Mr. Kong's appointment," said Robert S. Yorgensen, STR's Chairman, President and CEO. "He is a seasoned professional with excellent management skills and a strong technical background, and I believe he can help us meet our goal of substantially increasing our encapsulant sales in China. Given his operational experience, I also trust that Mr. Kong will be able to link the sales effort more closely with that of our China-based operations team for a more coordinated and timely response to customer demands."
Mr. Kong will report to STR's global Director of Sales and Technology, and to STR's China Business Director.
Zhenfa's Chairman, Zha Zhengfa, added "I have known Mr. Kong for nearly a decade and I respect his experience along with his many contributions to the Zhenfa Group. He is a trusted member of my senior management team and I know he appreciates the important role that I have asked him to undertake on behalf of Zhenfa's investment in STR and our commitment to helping STR achieve growth and success in China."
About STR Holdings, Inc.
STR Holdings, Inc. is a provider of encapsulants to the photovoltaic module industry. Further information about STR Holdings, Inc. can be obtained via the Company's website at www.strsolar.com .
About Zhenfa Energy Group Co., LTD.
Jiangsu Zhenfa Holding Group Co., Ltd., the parent of Zhenfa, was founded in 2004, and Zhenfa Energy Group was founded in 2012. Zhenfa is a technologically advanced enterprise specializing in photovoltaic power generation system integration. Zhenfa's mission is to promote an environmentally friendly alternative to energy generation in the effort to mitigate climate change across the globe. The company is one of the first energy-conservation service enterprises verified and filed by National Development and Reform Commission in China. Zhenfa is committed to delivering high quality and affordability in solar PV installations. Further information about Zhenfa and its affiliated companies can be obtained via its website at www.zhenfa.com .
Forward-Looking Statements
This press release and any oral statement made in respect of the information in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may contain such words as "may," "could,""expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," or "continue" or the negative of these terms or other comparable terminology, and include assumptions that underlie such statements. Such statements are subject to inherent risks and uncertainties. Our business and prospects, and the price of our common stock, could be adversely affected by known and unknown risks and uncertainties, including without limitation those described in our Definitive Proxy Statement filed on October 8, 2014, and under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in our Form 10-K filed on March 13, 2014 and subsequent periodic reports on Form 10-Q and Current Reports on Form 8-K. You are urged to carefully review and consider the disclosure found in our filings which are available on http://www.sec.gov or http://www.strsolar.com . We undertake no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.
Company Contact: STR Holdings, Inc. Joseph C. Radziewicz Vice President and Chief Financial Officer +1 (860) 265-1247
