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Suntech feb 20
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Wuxi Suntech Appoints New President
Feb 20, 2015 | Biz Community
Wuxi Suntech Power has appointed Victor Haibo Xiong as president of Suntech where he will be fully responsible for the management of the company. Xiong took the position after serving in various roles in the company for the past ten years. Xiong brings a strong background and diverse experience in the solar industry value chain... -
LDK Solar Exits Bankruptcy Proceedings
Feb 20, 2015 | PV Tech
By Mark Osborne
LDK Solar's chapter 15 bankruptcy proceedings as well as the chapter 11 bankruptcy proceedings in the US have been concluded with the majority of bondholders agreeing to a complex debt for stock swap and a convertible debt scheme due in 2018. -
LDK Solar: Opportunity As Company Looks To Emerge From Bankruptcy
Feb 19, 2015 | Seeking Alpha
Chinese solar manufacturer LDK Solar (OTCPK:LDKYQ) represents a good risk/reward opportunity as the company is in the final stages of restructuring $700 million in offshore debt. LDK Solar's share price has deteriorated significantly since the company defaulted on a $300 million bond that matured in February 2014.
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Shunfeng/LDK Solar News
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Wuxi Suntech Appoints New President
Feb 20, 2015 | Biz Community
Wuxi Suntech Power has appointed Victor Haibo Xiong as president of Suntech where he will be fully responsible for the management of the company.
Xiong took the position after serving in various roles in the company for the past ten years. Xiong brings a strong background and diverse experience in the solar industry value chain, successively serving as top management of Suntech and its affiliated companies.
"Xiong has shown strong leadership in his roles at Suntech and I think his management expertise will be a great asset as we look to grow our company," said Eric Luo, CEO of Shunfeng International Clean Energy Limited, who oversees Suntech's international operations. "When we acquired Suntech, we knew it had the best PV modules in the industry. With Xiong's leadership, we believe that the company will help drive our vision of becoming the largest integrated clean energy provider globally."
"It is a great honour to lead such a critical part of the Shunfeng group," said Xiong. "Suntech ended 2014 with the strongest financial footing in the solar industry and passed the 8GW mark, shipping more than 30 million modules to date worldwide. I'm excited to begin my new role as president of Suntech and to continue our success as we look to expand our operations by optimising our manufacturing and automation processes."Link: http://www.bizcommunity.com/Article/196/644/124722.html
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LDK Solar Exits Bankruptcy Proceedings
Feb 20, 2015 | PV Tech
By Mark Osborne
LDK Solar's chapter 15 bankruptcy proceedings as well as the chapter 11 bankruptcy proceedings in the US have been concluded with the majority of bondholders agreeing to a complex debt for stock swap and a convertible debt scheme due in 2018.
However, LDK Solar remains heavily debt laden with at least US$2 billion owed to a number of Chinese banks.
Through two investment vehicles, the billionaire owner of Shunfeng, Zheng Jianming, has almost a 30% stake in LDK Solar.
LDK's financial saga began in 2013 after it struggled to honour payments on an offshore bond. The company eventually entered bankruptcy proceedings last year, during which time it was delisted from the New York Stock Exchange and saw its founder and chairman, Xiaofeng Peng, step down from his role.
Link: http://www.pv-tech.org/news/ldk_solar_exits_bankruptcy_proceedings
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LDK Solar: Opportunity As Company Looks To Emerge From Bankruptcy
Feb 19, 2015 | Seeking Alpha
Chinese solar manufacturer LDK Solar (OTCPK:LDKYQ) represents a good risk/reward opportunity as the company is in the final stages of restructuring $700 million in offshore debt. LDK Solar's share price has deteriorated significantly since the company defaulted on a $300 million bond that matured in February 2014. After successful negotiations with offshore creditors, the company filed Chapter 11 and Chapter 15 bankruptcy last October.
Despite the bankruptcy filing, the restructuring agreement allows current equity holders to retain their ownership stake. LDK can exit bankruptcy as early as February 19 when the company has a court hearing that could close the Chapter 11 case...
Subscription needed. For link: http://seekingalpha.com/article/2931466-ldk-solar-opportunity-as-company-looks-to-emerge-from-bankruptcy
Suntech News
Shunfeng/LDK Solar News
Full Text of Stories Below
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