日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Wuxi court declares Suntech bankrupt

By Zheng Yangpeng and Du Juan | China Daily | Updated: 2013-03-21 03:34

Wuxi court declares Suntech bankrupt

Solar panels made by Suntech Power Holdings Co on an overpass in Wuxi, Jiangsu province. A court in Wuxi ruled on Wednesday that the debt-ridden company is bankrupt and must be reorganized, at the request of creditors. [Photo/Xinhua] 

Solar panel giant to 'reorganize'after it defaults on bond repayment

Suntech, one of the world's biggest solar panel manufacturers, was declared bankrupt on Wednesday, ringing alarm bells in the nation's solar industry.

Wuxi court declares Suntech bankrupt

Xinhua News Agency reported on Wednesday that a court in Wuxi, Suntech Power Holdings Co's base, had ruled that the company undergo "bankruptcy reorganization".

The announcement came two days after Suntech said it had defaulted on a $541 million bond payment.

The company has been badly hit by oversupply in the global market for solar cells and panels, as well as by trade disputes with the United States and Europe over alleged Chinese dumping and government subsidies to producers.

The board of the company ousted its founder, Shi Zheng-rong as chairman earlier this month.

The 21st Century Business Herald on Wednesday quoted sources as saying Shi had the support of the Wuxi government and could return to Suntech as part of the reorganization.

By the end of February, nine major Chinese commercial banks had lent Suntech a total of 7.1 billion yuan ($1.14 billion), Xinhua reported.

Shi founded Suntech in 2002 and took the company public three years later, becoming the world's first solar billionaire.

He obtained credit from China Development Bank Corp that helped him wrest control of the industry from German and Japanese competitors.

But a sharp drop in solar panel prices in recent years has wiped out the profits of solar panel makers around the world.

Suntech was also hurt by a report in July that a business partner faked $680 million in collateral for a loan Suntech had guaranteed.

 

Related Readings

Suntech 'could be sued' over $541m in unpaid bonds

Unusual share dealing keeps focus on Suntech

Suntech to shut lone US plant, blaming high costs

Suntech's fate dims amid conflict

Suntech gets $32m emergency loan from local gov't

 

Previous Page 1 2 Next Page

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 色接久久| 日本v在线 | 国产精品久久欧美久久一区 | 精品国产精品国产偷麻豆 | 综合久久网| 色骚综合 | 久久久久黄色片 | 国产高清黄网站全免费 | 8x8ⅹ国产精品一区二区 | 在线日本中文字幕 | 欧美日韩免费看 | 日韩中文字幕影院 | 日韩高清在线 | 操人小视频 | 色播久久 | 18女人毛片| 一级免费看片 | 国产精品v欧美精品v日韩 | 国产精品91视频 | 日韩欧美午夜 | 96av视频| 影音先锋男人资源网站 | 69av在线视频| 久久三级视频 | 麻豆映画在线观看 | 欧美永久免费 | 自拍在线 | 神马久久影院 | 国产精品久久久久久久久久久久久久久久 | 在线观看免费国产 | 可以在线观看的av | 欧美大胆视频 | 二区不卡| 色婷婷av一区二区三区软件 | 成人久久久久久久 | 国产原创av在线 | 成人性视频免费看 | 午夜男人网站 | 国产黄色网 | 国产成人精品综合久久久久99 | 国产经典av |