Q-Cells suing Suntech Power for EUR 14.7m - report

(ADPnews) - Sep 17, 2010 - German photovoltaic (PV) cells maker Q-Cells SE (ETR:QCE) is suing Chinese solar equipment maker Suntech Power Holdings Co Ltd (FRA:S9H) for EUR 14.7 million (USD 19m) for non-execution of a solar cell supply contract.

The German firm filed a lawsuit against Suntech in Berlin at the start of September, US financial news service The Street reported on Wednesday.

Q-Cells claims that in 2008 Suntech broke an agreement the two parties signed in 2005. Suntech objected, saying that the agreement expires at the end of 2010. Thus, Suntech "intends to vigorously defend against the claim," The Street reported.

(EUR 1.0 = USD 1.307)

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