• Suntech to Upgrade Panel Production to VDE Certified Four Busbar Modul... 2015-05-25 Wuxi, China, April 15, 2015/Press Release/: Wuxi Suntech announced today that the company will upgrade all of its solar panel production to its four busbar modules. The modules will replace the photovoltaic producer’s three busbar module. The four bu...
  • Suntech’s Modules Receive Additional Quality Ranking from the VDE Inst... 2015-05-15 Wuxi, China, March 31, 2015/Press Release/: Today, Suntech announced that its modules received the VDE certification of the enhanced hail test, demonstrating the high quality and durability of Suntech’s modules in extreme weather conditions compared ...
  • Suntech Opens Warehouse in Cape Town 2015-03-23 Cape Town, South Africa, March 23, 2015/Press Release/: Wuxi Suntech Power Co., Ltd. has officially announced the establishment of a local warehouse in Cape Town, South Africa. This new facility will initially store 500kW of modules and will expand i...
  • Letter from the President of Wuxi Suntech 2015-03-02 Tuesday, February 17, 2015Dear valued customers, partners and friends,Following a strong end for 2014, I am excited and proud to announce that Suntech has been re-added to the Tier 1 solar company list on Bloomberg New Energy Finance’s PV Market Outl...

Suntech Announces that Wuxi Court Accepted Petition for Restructuring of Chinese Subsidiary Wuxi Suntech

Posted on 2013-03-21
WUXI, China, March 21, 2013 /PRNewswire/ -- Suntech Power Holdings Co., Ltd. (NYSE: STP), or the "Company", today announced that the Wuxi Municipal Intermediate People's Court in Jiangsu Province, China has formally accepted the petition for the insolvency and restructuring of the Company's Chinese subsidiary Wuxi Suntech Power Co., Ltd. ("Wuxi Suntech").The Court has appointed an administration committee, consisting of local government representatives and accounting and legal professionals, to administer the restructuring of Wuxi Suntech. The insolvency and restructuring procedure is designed to facilitate an orderly process for both Wuxi Suntech and its creditors. The primary goal is to restructure Wuxi Suntech's debt obligations, while continuing production and operations.Wuxi Suntech is the Company's principal operating subsidiary in China engaged in the manufacture of photovoltaic (PV) cells and PV modules. Wuxi Suntech will continue operations through the restructuring period. Furthermore, the Company has additional wholly owned or partially owned subsidiaries with cell and module production facilities that continue to produce high quality solar products to meet customer orders. Suntech and the administration committee are committed to maintaining all of Suntech's product warranty obligations.Suntech Power Holdings Co., Ltd., the ultimate parent company of Wuxi Suntech, has not commenced insolvency proceedings, nor have any of the Company's other principal operating subsidiaries. The Company is not aware of any similar proceedings regarding any of its other entities.
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