PVA TePla to cut workforce

The management board and supervisory board of PVA TePla agreed on an additional cost reduction program today (Wednesday). The current market developments and the associated investment constraints especially in the area of business that the company specializes in have been cited as the reasons for these adjustments.

The workforce in both German cities is to be reduced by about 80 in total. The cost reduction measures and additional writedowns on inventories, especially in the solar segment, will result in a negative impact on the results in the order of approximately €6 million in 2013 according to PVA TePla. The positive EBIT contribution for the fiscal year 2013 is not longer plausible. The company nevertheless states that there will be a positive impact on costs amounting to about €4 million as a result of the corresponding reduction.

For both solar and semiconductor sectors the company is looking to increase focus on business with individual projects and partners again and has to therefore adjust capacity accordingly.