Q-Cells realignment package approved; new COO announced

Share

The realignment package, which will see Q-Cells’ production capacity for solar cells at its German headquarters permanently halved and will include streamlining the organizational structure, has been designed to help the company regain its competitive position.

In today’s announcement, it elaborates on its plans by stating that it aims to expand research and development to cover the "full spectrum", including solar cells, systems and applications, in order to speed up the development of "marketable products with competitive system costs".

Q-Cells adds that it will simplify its sales structures, and focus its sales activity "even more strongly" on international markets.

In terms of the two board changes, ex-Conergy manager Andreas von Zitzewitz has been appointed as a member of the executive board. He has also been announced as the new COO and will head up production, research and development, purchasing, logistics and quality.

In another change, the company’s marketing and sales head, Hans-Gerd Füchtenkort, has left the company. As such, CEO Nedim Cen will take over his responsibilities until a replacement has been found. He previously filled von Zitzewitz’s COO role.

For the full year, Q-Cells expects to generate sales revenues of around €1 billion and an operating loss in the three-digit million euro range. And, while the company expects 2012 to be a difficult financial year, it forecasts a return to an operating profit.

In an industry note issued by Germany’s BHF Bank, however, it was said that even with Q-Cells’ proposed cost-cutting measures, it will "continue to lag its Asian competitors in production costs, leaving the mid-term business outlook very gloomy for the company."

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.