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Suntech established US wholly owned subsidiary
By AMY CHEUNG
Published: August 11, 2006 12:00 AM
Suntech Power Holdings Co., Ltd., one of the world's leading manufacturers of photovoltaic (PV) cells, announced that it has established Suntech America, Inc., a wholly-owned Delaware corporation, as part of a long-term strategy to establish a major market for its solar modules and solar cells in North America, said the company in a statement. “Suntech is interested in the long-term potential of the US market for residential and commercial applications,'' commented Dr. Zhengrong Shi, Suntech's Chairman and Chief Executive Officer.  ''Our immediate objectives include the continuation of a regular, dependable supply of solar modules to our existing customers, the establishment of a warehouse facility on the west coast, and pursuing new relationships with US customers,'' said Mr. Efird, President of Suntech America. ''The long-term solar wafer supply agreement we recently entered into will better position us to expand our market share in the United States.''  
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