Suntech said it Canada Goose Jackets would cut solar cell

admin on 21 de Dezembro de 2013

Canada Goose Jackets Suntech slashes production Canada Goose Jackets

buy canada goose jacket cheap Prices for solar panels have crashed in the last two years, erasing profits across the sector. Chinese firms face additional canada goose pressure from anti dumping fights with the United States and Europe.LDK on uk canada goose Monday reported a second quarter loss nearly three times bigger than a year earlier, slashed its revenue outlook, and said it planned to raise new Canada Goose Coats On Sale funds.Suntech said it Canada Goose Jackets would cut solar cell capacity by 25 percent, canada goose coats on sale through cutbacks at its Wuxi facility, near Shanghai, that would affect about 1,500 jobs. Most staff would be offered jobs at other plants but some would face severance, cheap Canada Goose it said.Suntech shares rose 8 percent on Monday on the New York Stock canada goose uk black friday Exchange on news of the capacity reduction,although they Canada Goose Parka are down 58 percent for the year.The weak outlook sent LDK shares down 5 percent to an all time low of $1.18 on Monday. The stock, which was listed on the canada goose uk outlet New York Stock Exchange in 2007, has lost about three quarters Canada Goose Outlet of its value in the last year.LDK, which has already cut more than 5,000 jobs this Canada Goose Online year, said it laid off 3,884 more employees in the second quarter.It said it planned no further substantial cuts but analysts questioned if it had done enough to stem the mounting losses.guys are responding a bit, but they have to run even tighter ships canada goose uk shop to survive canada goose coats a 65 cent module environment, said Aaron canada goose clearance sale Chew, Canada Goose online analyst at Maxim Group.After peaking at $4.20 a watt four years ago, prices for solar panels have dived 85 percent to about 65 cents in 2012.A massive reduction in canada goose factory sale supply and also capacity is necessaryto balance supply and demand in the solar market, Raymond James analyst canada goose clearance Pavel Molchanov wrote in a note.TARIFF FIGHT In addition to chronic oversupply, Chinese solar companies have been hit by anti dumping tariffs in the United States and they face a similar action in Europe, cheap canada goose uk their largest market. anti dumping tariff, the European anti dumping investigation, and oversupply of solar modules, we have decided to right size our production capacity and continue Canada Goose sale to optimize our organization, Suntech CEO David King said.Europe and the United States are objecting to canadian goose jacket billions of dollars in credit lines and other support that China has provided to its solar industry through state run banks.In July, the government of Xinyu city, in Jiangxi province, said it would use taxpayer funds to repay some of LDK loans, but CEO Xiaofeng Peng said on a canada goose black friday sale conference call with canada goose store analysts the firm was still looking to raise funds.the past few months we had in depth discussions with several companies and a few of them have shown a significant interest in taking a strategic investment position in the company, he said, adding that the company had not received any offer yet.Suntech cuts mean its operational solar cell capacity will temporarily be reduced to 1.8 gigawatts (GW) from about 2.4 GW, following the lead of other producers in cutting output.Suntech said it was on track to reduce buy canada goose jacket cheap recurring operating costs by 20 percent in 2012. The company said it was targeting a return to positive operating cash flow in a necessary step they have to take just to keep their head above water, but it is not like it is transformational and will keep buy canada goose jacket them afloat, said Maxim Chew, who has a $0 price target on Suntech.Suntech, whichis facing an acute financing shortfall, said it was likely defrauded of 560 million euros ($690 million) by its partner in a jointly owned uk canada goose outlet fund, raising questions about its ability to repay over half a billion dollars of debt due next March buy canada goose jacket cheap.

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