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Latest Suntech Power Stories

2013-03-18 08:21:44

Note Holder Support for Consensual Restructuring Continues WUXI, China, March 18, 2013 /PRNewswire/-- Suntech Power Holdings Co., Ltd. (NYSE: STP) ("Suntech" or the "Company") today announced that it has received from the trustee of its 3% Convertible Notes (the "Notes") a notice of default and acceleration relating to Suntech's non-payment of the principal amount of US$541 million that was due to holders of the Notes on March 15, 2013. Such event of default has also triggered...

2013-03-14 16:22:44

WUXI, China, March 14, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP) (the "Company"), one of the world's largest producers of solar panels, announced that it has been contacted by the New York Stock Exchange, Inc. regarding today's unusual trading activity relating to its American depositary shares. Management of the Company is not aware of undisclosed events that triggered such trading activity. The Company is aware of recent market rumors and third party reports...

2013-03-12 08:23:06

GOODYEAR, Ariz. and WUXI, China, March 12, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest producers of solar panels, will stop production at its Goodyear, Arizona, solar panel manufacturing facility on April 3, 2013, with forty-three employees affected. Higher production costs exacerbated by import tariffs on solar cells and aluminum frames imposed by the U.S. government, as well as global solar module oversupply, contributed to the facility's...

2013-03-11 08:22:19

WUXI, China, March 11, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest producers of solar panels, today announced that it has signed a forbearance agreement with the holders of more than 60% of the Company's 3% Convertible Notes (the "Notes"). Under the forbearance agreement, in the event the Company does not make payments due under the Notes on March 15, 2013, the signing bondholders agree not to exercise their rights under the Notes and the...

2013-03-07 08:22:28

WUXI, China, March 7, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd (NYSE: STP) ("Suntech"), one of the world's largest producers of solar panels, today announced that it has settled all outstanding disputes with GSF Capital Pte Limited ("GSF Capital") and Javier Romero in connection with a guarantee provided by GSF Capital to Suntech. As part of the settlement, GSF Capital will dispose of its entire ownership interest in Global Solar Fund, S.C.A., Sicar (the "Fund") for an agreed...

2013-03-05 20:20:31

WUXI, China, March 5, 2013 /PRNewswire/ -- The Board of Suntech Power Holdings Co., Ltd. (NYSE: STP) has issued a statement claiming it has purported to remove me as Executive Chairman. I respond as follows: 1. The Board's decision to purportedly remove me was misconceived and unlawful. The Board had no legal basis for doing so, and the decision was invalid and of no effect. The actions taken at this time by the rest of the Board show that they are not focused on the issues most important...

2013-03-04 08:30:59

WUXI, China, March 4, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest producers of solar panels, today announced that Ms. Susan Wang has been appointed chairwoman of the board of directors, effective immediately. A director of Suntech since April, 2009, Ms. Wang replaces Dr. Zhengrong Shi, who will remain a director of Suntech. The board thanks Dr. Shi for his contributions as chairman. "I'm pleased to have been elected chairwoman of...

2013-01-31 04:20:49

WUXI, China, Jan. 31, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest solar companies, announced the completion of the largest ground mounted PV system in the Kingdom of Saudi Arabia. The 3.5 megawatt (MW) system is owned by Saudi Aramco and installed on the grounds of the King Abdullah Petroleum Studies and Research Center (KAPSARC), the world's largest energy research center, in Riyadh, Saudi Arabia. Klaus Friedl, Vice President...

2013-01-13 16:20:31

WUXI, China, Jan. 14, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest producers of solar panels, today announced that it has regained compliance with the New York Stock Exchange's (NYSE) quantitative continued listing requirements. In a letter dated January 8, 2013, the NYSE notified the Company that a calculation of Suntech's average stock price for the 30 trading-days ended December 31, 2012 indicated that its stock price was above the NYSE's...

2012-12-18 04:20:24

WUXI, China, Dec. 18, 2012 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest producers of solar panels, today announced that its solar modules have passed the Blowing Sand Test based on DIN EN 60068-2-68 LC2 by SGS, the world's leading inspection, verification, testing and certification company. The SGS test result confirms that Suntech's solar modules are suitable for solar installations in desert regions. "As solar energy proliferates around...