First Solar has revealed its consolidation plan.
First Solar is closing its Frankfurt (Oder) manufacturing facility and indefinitely idling four production lines of the 24 in Kulim, Malaysia.
The firm reports that it expects a savings of $100 million to $120 million annually as a result. Fist Solar also paid down $145 million in debt. The company is slashing headcount by 2,000 positions – about 30% of its workforce.
The thin-film market leader joins SunPower, the conversion efficiency leader, which is closing its 125 MW Fab 1 in the Philippines and moving some of those operation to Fab 2.
