Suntech Power Holdings has revealed that a group of eight Chinese banks have filed a petition for insolvency and restructuring of the company’s main manufacturing subsidiary, Wuxi Suntech.
An unidentified top tier solar company based in Asia has placed a US$5.3 million order with Tempress Systems, a subsidiary of Amtech for its solar cell diffusion processing tools.
Arizona-based Solar Bankers and its German affiliate Apollon have developed a new CPV module which, the companies claim, has low production costs and a 28% conversion rate.
Slurry recycling specialist, SiC Processing which is currently in receivership, has warned unsecured creditors to expect low debt recovery due to a preliminary, unaudited assessment of its assets.
Major polysilicon producer Hemlock Semiconductor has cited unresolved trade disputes, notably with China, as a key factor behind the decision to lay off approximately 400 employees, while reducing polysilicon production and delaying the ramp of its new plant in Tennessee.
ASP declines in 2012, driven by industry overcapacity throughout the PV supply chain, forced over 350 companies in China, from equipment suppliers, polysilicon producers to module manufacturers, to stop operations entirely, according to market research firm ENF.
