Suntech cuts solar cell production capacity

Suntech Power Holdings Co Ltd, the world's largest solar panel maker, said it temporarily shut a portion of its solar cell production capacity in China, as it grapples with weak selling prices and import duties in the United States.

Suntech's operational solar cell capacity will temporarily be reduced to 1.8 gigawatts (GW) from about 2.4 GW.

The cut at the Wuxi facility is expected to affect about 1,500 employees in China. Most of these employees would be offered positions at other production facilities but some would face severance, Suntech said.

Suntech said it is on track to reduce recurring operating costs by 20 percent in 2012.

The company last month estimated weak margins for the second quarter and cut its full-year shipment outlook.

Another solar equipment manufacturer, China's LDK Solar Co Ltd, reported on Monday a much bigger loss, downgraded its sales forecasts and said it was in talks with potential investors.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

WS510 Secondary Standard

WS510 Secondary Standard

In the monitoring of large photovoltaic (Utility Scale), in assessing potential sites (Solar-assessment), or in up and coming electricity cost saving initiatives projects (Commercial & Industrial), the WS510 now provides the market a secondary standard pyranometer, ultrasonic wind speed, ultrasonic wind direction, temperature, pressure and humidity all in a single unit.. This sensor meets the high demands of the world meteorological organization (WMO) through the active valving at air temperature measurement and the inertia- and maintenance-free measurement of wind speed and wind direction on the ultrasonic principle. Equipped with a Kipp & Zonen pyranometer of the secondary standards, the WS510-UMB Compact weather sensor from Lufft unites the precision of a variety of meteorological individual sensors in a single all-in-one device, for the first time.