According to a report in todays edition of Germanys Handelsblatt, around 25 photovoltaic companies from the European solar industry are backing the new EU initiative, ProSun. They claim massive competition distortions have occurred due to dumping and subsidies.
"The Chinese companies were supplied with multi-billion dollar loans and, despite massive losses, offered their products at prices below production costs," SolarWorld spokesman, Milan Nitzschke told the paper.
As reported yesterday, EU Trade Commissioner, Karel de Gucht has 45 days from the time of the filing said to have been made on Tuesday, July 24 to decide whether to initiate investigations. A preliminary judgment is expected to be made no later than 2013 and punitive tariffs could apply retroactively, as is the case in the U.S.
Translated and edited by Becky Beetz.