BRIEF-Suntech response to final U.S. doc determination
Oct 10 (Reuters) - Suntech Power Holdings Co Ltd :
* Response to final U.S. doc determination
* Source text Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest producer of solar panels, offers the following statement regarding the U.S. Department of Commerce's (DOC) final determination to impose countervailing duties (CVD) of 14.78% and anti-dumping duties (AD) of effectively 21.19% on Suntech's crystalline silicon photovoltaic cells imported from China.
"Unilateral trade barriers will not make any one company more competitive, but will make solar less competitive against other forms of electricity generation. These ill-conceived taxes on solar products were the outcome of an unrealistic analysis that compared, for example, Suntech's costs of production to the theoretical costs of production in Thailand, a country with less than 100MW of PV production capacity. It's unfortunate that the process works this way; however, Suntech is well-prepared for the future and to serve the needs of our customers," said E.L. "Mick" McDaniel, Managing Director of Suntech America.
"The growth of destructive trade barriers represents a significant, long-term challenge to the health of the solar industry in the U.S. and globally. Nobody benefits from a global solar trade war except for those who want a less competitive solar industry," concluded Mr. McDaniel.
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