Canadian Solar (CSIQ) Enters Distribution Agreement with DM Solar

September 6, 2016 7:03 AM EDT

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Canadian Solar Inc. (Nasdaq: CSIQ) announced the signing of a sales partnership with DM Solar, a wholesale distributor of solar products located in Guadalajara, Mexico.

The solar panels sold through this sales partnership will be used throughout various projects in the residential and commercial markets, primarily for small and medium-scale industrial installations throughout Mexico. The signing of DM Solar as a Canadian Solar distributor signifies a growing trend throughout the Latin American region towards the use of solar panels in the renewable energy industry.

Yusef Kanchi, co-founder and President of Sales for DM Solar, said, "We selected Canadian Solar for several reasons: reliable product quality, strong business ethics, proven financial stability, and established bankability. Not only does Canadian Solar's business philosophy blend well with DM Solar's corporate image, it also evokes a sense of consumer confidence that customers can appreciate."

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, commented, "Canadian Solar is proud to sign DM Solar as an authorized distributor in Mexico, and we are confident that they will be pleased with our company's innovative product quality and excellent customer service. We look forward to expanding our business relationship with DM Solar in 2016 and beyond, as the solar industry experiences rapid growth in Latin America."

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