Suntech Power Holdings Co., Ltd. (ADR) : Dupont, Suntech Partner To Supply Photovoltaic Materials
02/01/2012| 09:51am US/Eastern
DuPont Co. (>> E I Du Pont De Nemours And Co) is partnering with solar-panel maker Suntech Power Holdings Co. Ltd. (>> Suntech Power Holdings Co., Ltd. (ADR)) to help increase the supply of photovoltaic materials and technologies for the growing solar energy market.
The agreement focuses on technology advancements and supply-chain cost reduction initiatives. The companies also are pursuing co-marketing opportunities.
DuPont, a diversified U.S. manufacturer and chemical producer, currently supplies its Solamet photovoltaic metallization pastes for solar cells made by Suntech, as well as its Tedlar polyvinyl fluoride film, which is used in protective backsheets for Suntech solar modules.
The solar-product industry has been struggling with weak demand in Europe--the world's largest market for solar products--and lower average selling prices. Many solar-product companies are looking to diversify their markets geographically amid revised solar-product subsidy rules in Italy and the weakening of other European markets.
Suntech reported in November it swung to a wider-than-expected loss in its fiscal third quarter as its struggled with sharply higher expenses and a steep foreign exchange loss.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; email@example.com