Huantai Silicon Ditching Suntech (STP) In Favor Of MEMC Electronic Materials For Glory Silicon Joint Venture

Pacific Epoch posted today that Huantai Silicon Science and Technology suspended its cooperation with Suntech Power (STP) in their Glory Silicon joint venture according to the 21st Century Business Herald which cited Huantai President Wang Lubao. Wang said the company plans to form a joint venture with MEMC Electronic Materials (WFR) to manufacture solar cells.

The article wasn’t real clear as to whether the Glory Silicon project was ditched completely, but that appears to be the case with Huantai option for a smaller joint venture project.  The Glory Silicon joint venture was to have a production capacity of 1300MW while the new joint venture with MEMC is expected to have an annual capacity of just 300MW by 2014.

Whichever way you look at it, a win for WFR and a loss for STP.  Both stocks were down about one percent today and remain sick technically.

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