Wacker CEO speaks out against US, EU tariffs on solar products

14 December 2012 16:59  [Source: ICIS news]

LONDON (ICIS)--Wacker remains firmly opposed to US and EU trade tariffs on imported solar products from China, the CEO of the Germany-based chemicals firm said on Friday.

“We were one of the first to speak out against any kind of protectionism because, in a trade war, there can only be losers,” Rudolf Staudigl said in an address in Shanghai, where he opened a new Wacker regional headquarters.

Staudigl was referring to US anti-dumping duties on imported solar product from China and an EU trade probe into such imports.

“Low prices are the reason why solar products have been successful on a global scale,” Staudigl said.

“Consequently, any money that has to be spent on punitive tariffs cannot go toward research and innovation,” he said.

Tariffs would artificially raise the price of solar products and slow down the global shift toward renewable energy sources, he said.

“Wacker will continue to do all it can to ensure that any contentious issues are resolved through negotiation, just as German Chancellor Angela Merkel said on a recent trip to Beijing,” he added.

Wacker is a big producer of polysilicon, which is used in the production of solar products. In the three months ended 30 September, the company reported sharp decreases in sales and earnings in its polysilicon business.

By: Stefan Baumgarten
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