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News Breaks | | | | September 17, 2012 | | 09:05 EDT |  | STP | Suntech resets production capacity to reduce production cost
Suntech announced that in order to reduce production cost and operating expenses, the company has temporarily closed a portion of its solar cell production capacity in Wuxi, China and will continue to optimize its organization. Post the restructuring, Suntech's operational solar cell capacity will temporarily be reduced to 1.8GW, module capacity will remain at 2.4GW and wafer capacity will remain at 1.6GW. The consolidation of solar cell capacity is expected to affect approximately 1,500 employees in China. The majority of employees will be offered positions at other production facilities and severance packages will be provided to all others. The restructuring initiatives are expected to substantially improve the utilization rate of solar cell production facilities. In addition, Suntech's panel cost is expected to improve as production will be concentrated at the Company's highest efficiency, lowest cost manufacturing facilities. Suntech is on track to reduce its operating expenses by 20% in 2012 compared with 2011. | |
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News For STP From The Last 14 Days Check below for free stories on STP the last two weeks. |
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| May 22, 2013 | | 13:35 EDT | | STP | Cautious solar note, SolarCity lock-up highlighted by CNBC's Greenberg
 Subscribe for More Information | | | 10:01 EDT |  | STP | Early talks over China-EU solar panel dispute fail, Xinhua says
First-round talks to ease the current solar panel trade fight between China and the European Union have failed, reported Xinhua, citing Chinese trade body sources. Reference Link | | | 06:26 EDT | | STP | IHS: Solar industry CapEx down 36% in 2013, Digitimes says
Subscribe for More Information | | | May 21, 2013 | | 06:42 EDT | | STP | U.S., EU to negotiate with China over solar trade dispute, NY Times says
The U.S. and EU will negotiate settlements with China over allegations that the country's solar energy sector carried out illegal trading practices, according to The New York times. Under a deal that's starting to emerge, Chinese solar companies would have to raise the prices of their solar panels, but the companies would no longer have to pay high tariffs, the newspaper explained. Reference Link | | | May 20, 2013 | | 08:00 EDT | | STP | German minister calls potential EU solar tariffs 'grave mistake,' FT says
Subscribe for More Information | | | 06:26 EDT | | STP | Europe solar trade tariffs may slow down market growth, DigiTimes says
Europe solar trade tariffs may slow down the market growth although some Taiwan firms may benefit from them against China players, reports Digitimes Research. An anti-subsidy tariff against China-based solar firms is expected to be 30%-67.9% with the average as high as 57.6%. Reference Link | |
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