Citing risk incompatible with the company's objectives, the Switzerland-based Komax Group says it is shedding its Komax Solar business unit. Based in York, Penn., Komax Solar produces solar manufacturing equipment.
The statement reads in part: ‘Although the photovoltaics industry will no doubt remain interesting in the long term, the activities of Komax Solar will no longer form part of Komax's core business.’
In May 2012, Komax said it was cutting 70 jobs from its solar business, which had employed 285 people in the beginning of that year.
The Komax board of directors says the company intends to focus on its wire and medical manufacturing business units. The board says it will seek a new owner for Komax Solar and that operations are continuing as usual for the present.