Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, offers the following statement regarding the European Commission's initiation of anti-dumping proceedings concerning the importation of crystalline silicon photovoltaic wafers, cells and modules that originate from China.
"Our industry's mission is to make solar affordable for everyone and we are concerned that trade barriers will only delay the industry from fulfilling this," said Dr. Zhengrong Shi, Suntech's Executive Chairman and Chief Strategy Officer. "As a global solar company listed on the NYSE, we are well-prepared to substantiate our strict adherence to fair international trade practices. We are currently reviewing the notice of initiation, and will cooperate fully with the European Commission in its investigation."
"Protectionist measures would increase the cost of solar energy in Europe, and adversely affect European jobs in the solar industry. We stand together with the majority of European and global companies in the solar industry in supporting free trade. Until the issue is resolved, we will continue to work with our customers and partners to ensure business as usual," added Dr. Shi.