The photovoltaic products manufacturer says it is looking to restructure following the acquisition of German equipment maker ACI Ecotec last year. Consequently, its manufacturing capabilities will be refocused in Europe, while research and development will take place in Burnaby.
It adds that there will be a restructuring charge recorded in the second quarter of this year.
Explaining the decision, George Rubin, president of Day4 Energy stated: "Last year we acquired ACI, an equipment manufacturing company providing significant enhanced expertise in our European base. Between the two companies we are realigning the cost structure and workforce to better serve our customers with our EU base focused on sales, customer care and supply chain management, and our Burnaby based operations dedicated primarily to R&D."
"This action will not only align our cost structure with the potential for the near term but it will also ultimately put the company in a better position to expand, grow and complete our evolution in step with the broader PV market."
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