17 Dec '12, 6pm

Sunways cutting 40% of workforce due to difficult market #solar

Citing a difficult market environment, Germany-based Sunways AG has announced a series of restructuring measures affecting both its solar module and inverter business. The company plans to expand its work with LDK Solar Group, its majority shareholder. Standard solar cell production capacities at Sunways Production GmbH will be reduced, with a new focus on specialized solar cells for the automotive sector and building-integrated photovoltaics. No standard cells will be produced, leading to a 50% workforce reduction at the Arnstadt, Germany, factory. In the inverter segment, Sunways says it will focus on market- and customer-specific product adaptations. In-house development and production of devices will be de-emphasized, while the company plans to continue work on energy storage and energy management solutions. Overall, the company expects to cut its workforce of 265 by a...

Full article: http://www.solarindustrymag.com/e107_plugins/content/cont...

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