Oct 10 (Reuters) - Suntech Power Holdings Co Ltd :
* Response to final U.S. doc determination
* Source textSuntech Power Holdings Co., Ltd.(NYSE: STP), the world's largest producer of solar panels, offers the followingstatement regarding the U.S. Department of Commerce's (DOC) final determinationto impose countervailing duties (CVD) of 14.78% and anti-dumping duties (AD) ofeffectively 21.19% on Suntech's crystalline silicon photovoltaic cells importedfrom China.
"Unilateral trade barriers will not make any one company more competitive, butwill make solar less competitive against other forms of electricity generation.These ill-conceived taxes on solar products were the outcome of an unrealisticanalysis that compared, for example, Suntech's costs of production to thetheoretical costs of production in Thailand, a country with less than 100MW ofPV 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 ourcustomers," said E.L. "Mick" McDaniel, Managing Director of Suntech America.
"The growth of destructive trade barriers represents a significant, long-termchallenge to the health of the solar industry in the U.S. and globally. Nobodybenefits from a global solar trade war except for those who want a lesscompetitive solar industry," concluded Mr. McDaniel.
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