Suntech's Solar Manufacturing Unit Pushed toward Bankruptcy

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body-suntechs-solar-manufacturing-unit-pushed-toward-bankruptcy.jpg In the latest twist in the solar industry's consolidation saga, eight Chinese banks have petitioned the local courts to initiate insolvency and restructuring for Suntech Power Holdings' main manufacturing subsidiary Wuxi Suntech Power Holdings Co., Ltd.. The company says it will not object the filing, which the court could accept within the next few days.