Applied Materials announced today it will discontinue sales of its SunFab thin-film solar panels and restructure its business at a cost of about $400 million and 400 to 500 positions.
The company plans to focus on its crystalline silicon solar and LED lighting instead. Applied Materials Chief Executive Officer Mike Splinter said several factors have hurt the thin-film market: Continue reading Applied Materials Ends Thin-Film Line, Plans $400M Restructuring
Applied Materials Inc., (AMAT), officials say that their solar business will break even in 2010 but plan layoffs of 1,300-1,500 jobs, or 12 percent of the workforce in the next 18 months.
The semiconductor-equipment and PV solar panel maker reported a fourth quarter profit of $138 million, or 10 cents per share, on net sales of $1.53 billion.
New orders in Applied Materials’ Energy and Environmental business were up significantly from Q3 to $357 million in Q4 but still off 27 percent from Q4 2008.
Operating loss in the segment spiked to $242 million for FY2009 from $183 million in FY 2008. The company expects to save $450 million when the restructuring is complete.
Chief Executive Officer Mike Splinter said during the conference call: Continue reading Applied Materials: Solar Segment Will Break Even in 2010