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Wacker: punitive solar tariff is good for no one
By Fu Chenghao |
December 14, 2012, Friday
|
Online Edition
Online Edition
Germany's Wacker Chemie AG, which provides polysilicon for the solar industry, rejects import duties on Chinese solar products amid escalating trade disputes between China and the West, chief executive Rudolf Staudigl said.
The US has imposed punitive duties on Chinese solar products and the European Union is also investigating Chinese imports. China, on the other hand, started to scrutinize polysilicon deliveries from abroad.
"We at Wacker are rather concerned about this development. We were one of the first to speak out against any kind of protectionism," Staudigl said today in Shanghai following the opening of the company's new China headquarters. "In a trade war, there can only be losers. Low prices are the reason why solar products have been successful on a global scale.
"Consequently, any money that has to be spent on unjustified punitive tariffs cannot go toward research and development. That would artificially raise the price of solar products and slow down the global shift toward renewable energy sources."
Wacker also plans further investment in China with a pipeline of projects, including a new plant to produce polyvinyl acetate solid resins in Nanjing, Jiangsu Province, he said. The resins are, for example, used as a raw material for chewing gum. Production is expected to start early next year.
The company's investment in China is expected to exceed 600 million euro (US$785.3 million) by the end of 2016, from around 400 million euros today, Staudigl said.
Wacker's sales in China totaled 1.03 billion euros last year, about one-fifth of its total.
The US has imposed punitive duties on Chinese solar products and the European Union is also investigating Chinese imports. China, on the other hand, started to scrutinize polysilicon deliveries from abroad.
"We at Wacker are rather concerned about this development. We were one of the first to speak out against any kind of protectionism," Staudigl said today in Shanghai following the opening of the company's new China headquarters. "In a trade war, there can only be losers. Low prices are the reason why solar products have been successful on a global scale.
"Consequently, any money that has to be spent on unjustified punitive tariffs cannot go toward research and development. That would artificially raise the price of solar products and slow down the global shift toward renewable energy sources."
Wacker also plans further investment in China with a pipeline of projects, including a new plant to produce polyvinyl acetate solid resins in Nanjing, Jiangsu Province, he said. The resins are, for example, used as a raw material for chewing gum. Production is expected to start early next year.
The company's investment in China is expected to exceed 600 million euro (US$785.3 million) by the end of 2016, from around 400 million euros today, Staudigl said.
Wacker's sales in China totaled 1.03 billion euros last year, about one-fifth of its total.
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