LDK CEO Denies "80% of Solar Cos Went Bankrupt", JiangXi LDK Solar Co., Ltd

Release Date: 2009-03-30

Peng Xiaofeng, founder and CEO of wafer giant LDK Solar (NYSE:LDK), denied saying that 80% of photovoltaic companies had gone bankrupt on March 20, reports 21st Century Business Herald. Reports quoted Peng on March 17 as saying that Chinese officials confirmed that 80% of companies were cleared out by the financial crisis. Peng said that the journalist had misinterpreted him, according to the report.

Module manufacturers have been hit hardest by the recession, with 50% production cuts, said Cui Rongqiang, a professor at Shanghai Jiaotong University's Photovoltaic Research Center, on March 20. Claiming that 80% of companies have gone bankrupt is an exaggeration, said Cui.
Type: NORMAL
Company: JiangXi LDK Solar Co., Ltd
Country: China
Url: http://www.chinacleanenergy.cn/english/contents/116/2816.html
 
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