Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, offers the following statement regarding the U.S. International Trade Commission's (ITC) final ruling regarding countervailing duties (CVD) and anti-dumping duties (AD) on crystalline silicon photovoltaic cells imported from China.
"The continued growth of trade barriers represents a serious challenge to the U.S. solar industry, for American jobs, and for energy consumers globally. SolarWorld's hypocritical campaign has forced the fast-growing American solar industry to foot the bill for SolarWorld's competitive failures. Further damage can be prevented if governments engage in constructive dialogue to roll back protectionist barriers that limit our industry's ability to compete against fossil fuels. As a U.S. manufacturer and global company, Suntech will continue to oppose unnecessary solar taxes and promote affordable solar energy everywhere," said E.L. "Mick" McDaniel, Managing Director of Suntech America.
"However, we are pleased with the ITC's final ruling to reject Commerce's critical circumstances decision and remove the 90-day retroactivity of tariffs. It was apparent to everyone within the solar industry that heightened market demand in Q4 2011 was driven by the expiry of the 1603 cash grant program," added Mr. McDaniel.
"As a global company with global supply chains and manufacturing in China, Japan, and the U.S., we remain committed to our U.S. customers and will continue to supply hundreds of megawatts of high-quality, affordable solar panels that will not be subject to these U.S.-China tariffs," continued Mr. McDaniel.