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© REC Electronics Production | November 29, 2011

REC announce 60 percent capacity reduction

Renewable Energy Corporation (REC) intends to temporarily reduce production capacity at their 650 MW multicrystalline wafer facility in Herøya, Norway, by sixty percent.

The company said that disscussions with the trade union has begun on the plan, which would see the halt begin from December 1 2011 through the first quarter of 2012. The shutdown would likely affect around 200 employees the company said. The company blamed the debt crisis in Europe along with turmoil in capital markets for the decline in the solar market. If the market does not improve, the company said, further adjustments to production will be made. "In this very challenging market environment the solar industry is set for a phase of shake-out and consolidation over the next 1-2 years. REC needs to adapt production to the prevailing market conditions. With our strong positions in Singapore and the US, and with support from all our stakeholders, we are well positioned to benefit from the improved competitiveness of solar energy. I am encouraged by our organization's ability to continue to cut costs and develop new technologies." CEO Ole Enger says.
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August 21 2019 3:49 pm V14.1.4-2