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No more amorphous silicon panels from Suntech Shanghai

Posted: 12 Aug 2010 ?? ?Print Version ?Bookmark and Share

Keywords:amorphous silicon? thin-film? solar panels? Shanghai?

China's biggest solar manufacturer, Suntech Power Holdings Co. Ltd, has scrapped manufacturing amorphous silicon thin-film solar panels to favour crystalline silicon solar cells. The company will incur impairment charges of more than $50 million as a consequence.

It will also take impairment charges related to its investment in Shunda Holdings Co. Ltd., a manufacturer of polysilicon and silicon wafers. Suntech also expects to incur non-cash charges of $106 million to $126 million in the second quarter of 2010 related to its investment and prepayments to Shunda.

Suntech expects the total restructuring and impairment charges to have a negative impact of approximately $0.87 to $1.01 per American Depository Share (ADS) in the second quarter of 2010. Inclusive of the restructuring and impairment charges, Suntech expects the net loss for the second quarter of 2010 to be in the range of $147 million to $179 million, which corresponds to negative $0.82 to negative $1.00 per ADS.

Suntech expects total net revenues for the second quarter of 2010 to be in the range of $620 million to $630 million.

Others are also exiting the amorphous thin-film solar panel market, including Applied Materials Inc.

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