Sunways announces further restructuring changes17. December 2012 | Industry & Suppliers, Markets & Trends | By: Becky Beetz
In addition to cutting around half of its workforce, Sunways has announced it will focus its future activities on specialist applications. It will also reduce solar cell production.
On Friday morning, the Germany-based company said it would cut 40% of its 265 strong workforce, including around half of the 120 jobs at its Arnstadt facility. In the afternoon, it issued a further announcement detailing more restructuring changes.
These include the discontinuation "until further notice" of solar cells for standard modules at Sunways Production GmbH in Arnstadt. Instead production, which will be reduced, will focus on solar cells for specialist applications, like BIPV. The company’s Arnstadt location will, however, serve as the production and service center for its inverters, and as service provider for its modules.
Regarding its inverter business, Sunways has said in-house development and production will lose significance, and the company will instead focus on market and customer specific adaptations. The development of "holistic solutions", including energy storage and energy management will remain.
"The cooperation of the Sunways Group’s corporate and distribution divisions with its partner LDK Solar is to be intensified in the future, thus creating additional synergies for both sides. In this context and to accommodate the current environment, the Management Board decided to also reduce the number of staff at Sunways AG," continued the company in a statement released.
The difficult economic situation caused by falling prices and a changing market environment have been cited as the reasons for the restructuring and realignment.
"We need to make money again," stated chairman of the management board, Michael Wilhelm. "Our employees are aware of this and everybody knows that there is a long and hard road ahead of us. But I also know that our management, employees and works councils are convinced that we will jointly lead Sunways back to the road to success."
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 7375 views
- 4108 views
- 4068 views
- 2349 views
- 2177 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!