New Look Suntech To Tackle UK Market
Wuxi Suntech Power will be showcasing its new solar products at London's 2014 Ecobuild Exhibition March 4th to March 6th.
Wuxi Suntech, the owner of the "Suntech" brand, was acquired by Shunfeng Photovoltaics International Ltd., a HKSE listed EPC & Investment Company, in November 2013. The deal is close to finalization.
Completely independent of its former parent company -Suntech Power Holdings Co., Ltd. - Wuxi Suntech is now fully operational and is looking to expand its sales, marketing and services teams across Europe, beginning in the UK. Ping Xu, Suntech's Director of Sales for Europe, noted that "We are placing much attention on the UK solar PV market which ranked sixth in solar PV capacity added in 2013. During the first quarter of 2014 we expect the UK to become the largest solar market in Europe for the first time ever. This is a great opportunity and we believe we have the right resources to support the UK solar market".
Eric Luo, Suntech's new CEO said that "As a reemerging company with minimal debt and a healthy balance sheet, we are focused on increasing our capacity and staff in key markets and are also looking closely at several strategic acquisitions in Europe in 2014". Luo added that "despite a challenging year, we expect that in 2014 we will manufacture and ship up to 2.5 GW of panels, 20% more than in our peak year of 2011".
