By Sean Noble
China’s Suntech Power, one of the world’s largest producers of solar panels, has recently declared bankruptcy. Suntech also announced the closure of its only U.S. factory in Goodyear, Arizona.
The bankruptcy of Wuxi Suntech, which supplies more than 95 percent of Suntech Power’s products, was reported by the official Xinhua news agency Wednesday.
Suntech Power, which is traded on the New York Stock Exchange, at its peak had a market capitalization of $16 billion. But the c...