Sino-American Silicon Advances on Improving Orders: Taipei Mover
Sino-American Silicon Products Inc. (5483), a Taiwanese maker of solar wafers, rose the most in three weeks after the company said it plans to hire 350 more workers because of improving orders for its products.
The stock increased as much as 6.9 percent, the biggest intra-period gain since Nov. 9, and was 1.3 percent higher at NT$31.70 as of 1:13 p.m. local time in Taipei trading. Motech Industries Inc. (6244), Taiwan’s biggest solar cell producer, gained 0.8 percent. The benchmark Taiex index gained 0.8 percent.
Visibility for orders is improving and demand for solar energy is expected to rebound in 2013, Sino-American Silicon said in an e-mailed statement yesterday. One reason for the improvement may be a European Union anti-dumping probe of Chinese manufacturers that’s causing orders to be redirected to Taiwanese competitors, said Lian Rui, a Beijing-based analyst at research company NPD Solarbuzz.
“Taiwanese makers will face a completely different situation compared with Chinese rivals if the European Union impose duties on Chinese solar-energy imports,” Lian said. “They may start to see more orders next year.”
The EU began an investigation in September into if Chinese manufacturers of solar panels sell them in the 27-nation bloc below cost. The inquiry covers 21 billion euros ($27 billion) of imports of crystalline silicon photovoltaic modules or panels, as well as the cells and wafers used in them.
EU duties would be in addition to ones imposed by the U.S. Commerce Department in October ranging from 18 percent to 250 percent on solar-energy cells imported from China, and anti- subsidy penalties of about 15 percent.
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