30 Jan '17, 7pm

Celestica to exit solar module production at Toronto facility

In 2013, Celestica's solar lab at the Toronto facility had received TÜV Rheinland PTL approval to provide testing services required for the certification of solar modules. Image: Celestica Electronics Manufacturing Services (EMS) provider Celestica said it was winding down solar module assembly operations at its Toronto, Ontario, Canada production plant in the first quarter of 2017. Celestica management said in its earnings call late last week to discuss full-year financial results that recent module overcapacity and plummeting prices had led to much lower demand from contract customers. A decision to exit solar module production for customers was said to have been made in the fourth quarter of 2016. Darren Myers, CFO of Celestica said in the earnings call, “The recent oversupply of solar panels in the market and unprecedented declines in market pricing have, slowed demand...

Full article: http://www.pv-tech.org/news/celestica-to-exit-solar-modul...

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