suntech power holdings-adr (STP) Key Developments
Suntech Power Holdings Co. Ltd. Announces Management Changes
May 8 13
Suntech Power Holdings Co. Ltd. announced that Mr. Hongkuan Jiang has tendered his resignation as chief human resources officer of the company for personal reasons. Mr. Steven Duan has been appointed human resources director to lead the Corporate Human Resources function.
Buffett Denies Suntech Power Takeover Rumor
May 6 13
Warren Buffett has denied rumors regarding the acquisition of Suntech Power Holdings Co. Ltd. (NYSE:STP). "I read the report but I have no interest in the company because I don't know it well," Warren Buffett told China Business News during an interview at the shareholder meeting of Berkshire Hathaway Inc.
Suntech Power Holdings Co. Ltd. Announces Preliminary Operating and Revenue Results for the Fourth Quarter and Full Year Ended December 31, 2012
May 1 13
Suntech Power Holdings Co. Ltd. announced preliminary operating and revenue results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company announced preliminary results indicate that it's shipments of photovoltaic (PV) products declined by approximately 4% from the third quarter of 2012.
For the quarter, the company announced revenues were approximately $358 million, a sequential decline of 8%. Approximately 91% of revenues were generated from the sale of PV modules, and 9% of revenues were generated from the sale of PV systems, cells, silicon wafers and production equipment.
In the full year 2012, preliminary results indicate the company shipped approximately 1.8GW of PV products, in line with prior guidance.
Revenues for the full year 2012 were approximately $1,625 million, a year-over-year decline of 48%. Approximately 92% of revenues were generated from the sale of PV modules, and 8% of revenues were generated from the sale of PV systems, cells, silicon wafers and production equipment.
Suntech Power Seeks To Sell Assets In Italy
Apr 16 13
Suntech Power Holdings Co. Ltd. could sell its solar power generation assets in Italy, a company spokesman said. A source with direct knowledge of Suntech said during the week ending April 12, 2013 that it might consider selling its 88.15% in Global Solar Fund Sicar (GSF). "We intend to operate GSF for the time being and will consider all options to maximize the value for our stakeholders," a Suntech spokesman said. Spokesman of Suntech said that it would update investors "in the coming months" about use of the proceeds of a sale. The fund carries an enterprise value of up to $800 million, including more than $600 million in loans from China Development Bank, analysts says. Shares price of fell to 58 cents on April 15, 2013.
Suntech Power Reportedly In Talks With Investor For Wuxi Suntech
Apr 15 13
Suntech Power Holdings Co. Ltd. (NYSE:STP) is in talks with potential investors for its subsidiary Wuxi Suntech Power Co., Ltd., a source with Suntech Power confirmed. Suntech Power would give formal announcement when things are more certain, the source told Xinhua-run China Securities Journal on April 10, 2013. The company had been contacted by some interested investors, not excluding the reported one, the source disclosed.