China’s Suntech rebuffs U.S. solar complaint

Thu Oct 20, 2011 2:58pm EDT

(Reuters) – China’s Suntech Power Holdings Co Ltd lashed out against an anti-dumping complaint filed by major U.S. solar energy corporations this week, saying “anyone can file one of these actions” and that it will conduct business as usual.

The world’s largest maker of solar panels said on Thursday that the filing “is in no way a validation from the U.S. government as to the merits of the action.”

On Wednesday, seven U.S. solar manufacturers asked the Obama administration to slap duties of more than 100 percent on China imports, which they said were unfairly undercutting U.S. prices and destroying American jobs.

The complaint — filed with the International Trade Commission and the U.S. Department of Commerce — against the world’s no. 2 economy drew skepticism from within the industry, with many fearing a trade war could disrupt growth.

“Each individual company, including Suntech, will respond in accordance with ITC & DOC guidelines,” Suntech said in a statement.

“As a global company listed on the NYSE, we are confident in our position and well-prepared to substantiate our strict adherence to fair international trade practices.”

Shares in the Chinese company slid 3 percent to $2.02 in afternoon trade.

(Reporting by Edwin Chan, editing by Bernard Orr)

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