Suntech Power Holdings Co., Ltd. (STP) announced it will stop production at its Goodyear, Arizona, solar panel manufacturing facility on April 3, 2013, with forty-three employees affected. The company said higher production costs exacerbated by import tariffs on solar cells and aluminum frames imposed by the U.S. government, as well as global solar module oversupply, contributed to the facility's closure.
Suntech said its decision is in line with the company's global restructuring efforts to rationalize production capacity and reduce operating expenses by 20 percent in 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.