Energy Conversion Devices Inc. (ECD), a provider of flexible solar laminates and systems for the building-integrated and commercial rooftop market, says it has taken several actions designed to aid its business restructuring.
The company has temporarily suspended all manufacturing operations as an inventory control measure. As a result, approximately 400 manufacturing associates will be furloughed. The affected associates are located across the company's Michigan, Mexico and Ontario manufacturing facilities.
ECD plans to continue to serve its customers through its direct sales force and its global network of solar integrators and building materials suppliers. The company expects to resume production in its manufacturing facilities as soon as possible, once the existing inventory has been sold and market conditions warrant.
ECD says it continues to execute on its restructuring plan, which focuses on reducing cost, expanding addressable markets through globalization and Open Solar (a collaboration initiative), and enhancing its core solar technology.