September 17, 2012 / 1:17 PM / 5 years ago

Suntech cuts solar cell production capacity

Sept 17 (Reuters) - China-based Suntech Power Holdings Co Ltd’s said it has temporarily closed a portion of its solar cell production capacity in Wuxi, as it grapples with weak selling prices and import duties in the United States.

“In light of the preliminary U.S. anti-dumping tariff, the European anti-dumping investigation, and oversupply of solar modules, we have decided to right-size our production capacity and continue to optimize our organization,” CEO David King said.

The consolidation of solar cell capacity is expected to affect about 1,500 employees in China.

Suntech, the world’s largest solar panel maker, said that it is on track to reduce its recurring operating expenses by 20 percentage in 2012.

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