Suntech plans to overhaul its production base in Shanghai to focus on the production of crystalline silicon solar cells. As part of the restructuring of the company, the amorphous silicon film line will be shut down.
This will bring Suntech a non-cash loss of $50 million to $55 million in the second quarter. The company stated that “The rapid reduction in the production cost of crystalline silicon solar cells and the increase in its market competitiveness†is the reason for the transformation of Shanghai manufacturing plants. In addition, the company also released its second quarter earnings report yesterday.
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