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Suntech posts quarterly loss on charges

NEW YORK (Reuters) - China's Suntech Power Holdings Co posted a second-quarter loss as it took charges for an investment and to shut down its thin-film solar business, but it raised its shipment forecast for 2010.

NEW YORK (Reuters) - China's Suntech Power Holdings Co posted a second-quarter loss as it took charges for an investment and to shut down its thin-film solar business, but it raised its shipment forecast for 2010.

Like others in the industry, Suntech saw strong demand in the quarter on robust European demand as buyers rushed purchases ahead of cuts to renewable energy subsidies in key markets such as Germany and Italy.

The company also said it signed supply agreements for large projects in Thailand, India and Israel, and remained on track to begin production in the United States in fourth quarter.

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