Deals
Shunfeng Adding Suntech in Bid to Become Largest Solar Supplier
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Wuxi Suntech Power’s 3 billion yuan ($480 million) acquisition by Shunfeng Photovoltaic International Ltd. paves the way for the company to rejoin the ranks of the largest solar manufacturers.
Suntech confirmed the purchase in a statement yesterday. The Wuxi, China-based company expects to ship at least 2.5 gigawatts of panels this year, exceeding the 2.1 gigawatts it delivered in 2011 that made it the world’s biggest supplier.