© Business | May 14, 2012

250 jobs going as Applied Materials restructures Solar business

It's more bad news for the Solar Industry. Citing difficult market conditions, Applied Materials has announced a restructuring plan that will impact up to approximately 250 jobs globally.
In a filing to the United States Securities and Exchange Commission the company said it had approved a plan to restructure its Company's Energy and Environmental Solutions (EES) segment, blaming challenging conditions in the solar photovoltaic (PV) and lightemitting diode (LED) equipment markets.

The plan will impact up to approximately 250 positions globally.

Applied Materials will relocate manufacturing for its Precision Wafering System (PWS) solar business based in Cheseaux, Switzerland to Asia.

PWS business operations and customer support functions will be relocated primarily to Treviso, Italy, the headquarters for Applied's Baccini Cell Systems, and Xi'an, China, the site of Applied's Solar Technology Center. PWS's headquarters and new product development will remain in Switzerland.

The actions are part of the company's plan reduce the EES segment's annual revenue breakeven level to $500 million in fiscal 2013.The Company expects up to $55 million in cash expenditures under the plan.
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