Bloomberg News

Duties on China Solar Gear to Hurt Industry, Suntech Tells FTD

February 01, 2012

Feb. 1 (Bloomberg) -- Solarworld AG’s move to seek tariffs on Chinese imports may erode the progress made by the solar industry through rising prices, Suntech Power Holdings Co. Chief Executive Officer Zhengrong Shi told the Financial Times Deutschland.

If Solarworld and its allies win a complaint in the U.S. and a possible second one in Europe alleging the Chinese government is unfairly subsidizing solar-panel production, Suntech would increasingly focus on markets in China and Asia that don’t have tariffs, Shi told the newspaper.

Shi declined to predict if Suntech, the biggest producer of solar panels, will make a profit this year, the FTD said.

--Editors: Baldave Singh, Todd White

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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