Chinese Solar Firms Coming Under Increased International Scrutiny
The Bedford Report Provides Equity Research on LDK Solar & Yingli Green Energy
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/18/11 -- Solar stocks continue to be beaten down by the market as demand concerns grow. With the economic turmoil overseas and at home continuing, many companies have lowered sales forecasts for the future. The lower demand has even stopped some companies from constructing new factories until the markets are more favorable. The Bedford Report examines the outlook for the Solar Industry and provides equity research on LDK Solar Co. (NYSE: LDK) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE). Access to the full company reports can be found at:
The industry is also in the middle of a trade dispute over Chinese subsidies to solar companies there. If those protesting are successful, it could mean duty charged on solar equipment which could have a negative effect on companies with operations in China. Earlier this week The Coalition for American Solar Manufacturing (CASM) called on a group of Chinese solar cell and panel importers to explain how what CASM contends is "an unprecedented surge of dumped and subsidized exports made according to weak environmental standards and shipped halfway around the world could possibly benefit US consumers or the environment."
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According to CASM, China's harmful trade practice speaks for itself: "a 350 percent surge in Chinese exports to the United States from 2008 to 2010 and even greater escalation this year without any technological or cost advantage." Yet, the surge has prompted a 40 percent to 50 percent collapse in prices in the past year, causing unprecedented harm to an innovative, world-class competitive U.S. green-technology industry.
This was greatly evident earlier this year when the Obama-supported solar panel maker Solyndra filed for Chapter 11 bankruptcy protection, saying it could not compete with overseas rivals with cheaper products. Adding more fuel to the fire, solar energy product maker Energy Conversion Devices Inc. said earlier this month that it has temporarily suspended manufacturing and is planning about 500 job cuts. Energy Conversion Devices has been restructuring its operations since May.
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Datum: 18.11.2011 - 13:16 Uhr
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