It took 18 months to go from rumor to official pronouncement, but it has happened, Suntech is bankrupt. Yet another dark day for the solar industry. Can GT limp along making sapphires until solar rebounds in 3 to 5 years? I'm sure I don't know. Opinions, please.
Zero direct impact on GTAT. Consolidation in China and reduction of supply would be beneficial for the industry. UNfortunately, the legal process of bankruptcy does not mean that Suntech will cease production and go offline. They certainly should be scaling back capacity. We shall see...
I agree with chelle. The CEO has said himself in so many words that the propping up of companies is generally not good for the industry. If you want to get to grid parity propping up inefficient companies with inefficient operations is not the way to do it.
If anything, it's a net positive for the remaining companies.