Suntech to shut Arizona panel making facility

Reuters News

3/11/2013 10:57:10 AM - Reuters News

(Reuters) - Cash-strapped Suntech Power Holdings Co Ltd <STP.N> said it would stop production at a solar panel making facility in Goodyear, Arizona on April 3, affecting 43 employees.

Higher production costs, U.S. import tariffs on China-made solar cells and global oversupply caused the facility's closure, Suntech said in a statement.

Suntech shares were little changed at $1.16 before the bell on Tuesday.

(Reporting by Swetha Gopinath in Bangalore)