centrotherm Restructuring Business After Posting Losses

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Blaubeuren, Germany-based centrotherm photovoltaics AG, a PV technology and equipment provider, has announced a corporate restructuring plan following disappointing fiscal-year 2011 financial results. The company reported a 19.8 million euro operating loss.

The overhaul – called the ‘ct focus’ efficiency program – is expected to result in the elimination of approximately 400 jobs worldwide. centrotherm will shut down its thin-film PV segment at its German location, moving some of these activities to Asia. Increased sales activities will focus on the Middle East and North Africa regions, where growth is expected.

The company says its overall goal is to ‘grow profitably and sustainably with a streamlined and efficient organizational structure, and a strategic focus on crystalline silicon along the photovoltaic value chain.’ centrotherm aims to reach 22 million euros in cost savings per year by the end of 2013.

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