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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