Suntech considers reducing production capacity; CEO new APVIA chairman01. November 2011 | Industry & Suppliers, Markets & Trends | By: Becky Stuart
Suntech’s founder and CEO, Zhengrong Shi has said the company may reduce some of its production capacity in the first quarter of 2012. In other news, he has been appointed the first chief chairman of the Asian Photovoltaic Industry Association (APVIA).
In an interview with Bloomberg, Shi stated, "We’re running at full capacity right now, but sometimes in the first quarter there is some seasonality in demand."
The company could not provide pv magazine with any further, concrete details. A spokesperson did say, however, that rather than implementing production cutbacks, the general idea is to run capacity at a lower utilization rate, due to normal seasonal demand fluctuations.
They added that further details will be available in the release of Suntech’s third quarter earnings results, which are expected at the end of November.
In other news, Shi has been appointed the new chief chairman of APVIA. Chosen for his "impeccable credentials and contribution to the solar industry", he will undertake the position for a period of two years.
His role will include helping to globally promote Asia’s photovoltaic industry, improving communication between the industry and the public, and enhancing market expansion.
He commented, "With the Asian PV industry projected to account for approximately one-third of global demand by 2015, Asia is uniquely positioned to lead the charge in driving the growth of the PV industry worldwide."
APVIA members include 670 photovoltaic businesses, 23 industry associations and 15 research institutions.
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 4889 views
- 4595 views
- 3672 views
- 3314 views
- 2066 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!