LDK Solar Responds to U.S. DOC Tariffs
LDK Solar (NYSE: LDK) today issued the following statement regarding the U.S. Department of Commerce's (DOC) final determination on October 10th, 2012 to impose countervailing duties (CVD) of 15.24% and anti-dumping duties (AD) of effectively 25.96% on LDK's crystalline silicon photovoltaic modules and cells produced exclusively in China.
"Given the accomplishments and the success of the entire solar industry during the last several years, we strongly regret the DOC's ultimate decision. LDK Solar has been a leader with worldwide supply chains in the highly-competitive global solar industry since the company's founding in 2005, and this determination will not change our strategy in developing markets worldwide. LDK Solar reaffirms its commitment to be one of the industry's top tier companies by creating consistent value for our customers," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
"We believe that unilateral trade barriers will not make any solar company more competitive, but will make solar power less competitive against other forms of electricity generation. The growth of destructive trade barriers recently from the U.S. represent significant, long-term challenges to the health