Sovello To Shut Down Production, Lay Off All Workers

Posted by SI Staff on August 21, 2012 No Comments
Categories : New & Noteworthy

Germany-based PV manufacturer Sovello plans to end production at its factory at the end of this month and thus terminate its 1,000 employees.

The Q-Cells spin-off company had filed for insolvency in May, with the hope of undergoing successful restructuring with a court-appointed administrator.

However, the current financial condition of the company now necessitates a production shutdown and the layoff of all employees, according to a report from Deutsche Welle.

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