Wuxi Suntech Continues to Honor its Product Warranties Following Recent Company Restructure

WUXI, China, April 28, 2014 /PRNewswire/ -- Wuxi Suntech, recently acquired by Shunfeng International, today reassured its customers worldwide that it will continue to honor its product warranties. More than 30 million Suntech panels can be found in more than 80 countries, all of which will continue to enjoy the warranties documented in Suntech's original sales agreement.

"We recognize that it is unusual for a company that has gone through a restructuring to continue to honor its warranties - but most companies are not Suntech," said CEO Eric Luo. "We have been getting some questions regarding this issue, so we wanted to assure all of our customers that Suntech will continue to underwrite all the product and performance warranties entered before and after Suntech's restructuring phase."

"As part of the restructuring of Wuxi Suntech, we have set aside significant reserve funds to cover 100% of our past and future warranty obligations," Luo added. "Following our recent acquisition by Shunfeng International we now have the strongest financial footing in the solar industry with nearly zero debt. Our low debt ratio means that we have the lowest financial costs in the industry making it easier for us not only to invest in the growth of the business, but to provide the highest level of commitment and service to our customers worldwide."

In a letter to its clients, Suntech has called for any justified claim covered by Suntech warranty to be immediately filed with (a) the installer company, or (b) Suntech's authorized distribution partner, who supplied the affected modules or (c) Suntech directly by email at [email protected].

For further information on Suntech, visit: http://www.suntech-power.com/

About Wuxi Suntech Power Co., Ltd.

Wuxi Suntech Power Co., Ltd., a company incorporated in the PRC in January 2001, produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech has delivered more than 30 million photovoltaic panels or 8 GWs of installed capacity to more than 1 thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide reliable access to nature's cleanest and most abundant energy source. The company currently has a designed production capacity of 1.6GW for solar cells and two production lines with an aggregate annual designed production capacity of 2.4GW for solar modules.

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SOURCE Wuxi Suntech Power Co., Ltd.