Q-Cells Restructuring Company As Losses Continue To Mount

Q-Cells SE says that despite increasing sales revenues over the first quarter, the company recorded another operating loss in the second quarter due to continuing price declines and ‘considerable one-off effects.’ In response, Q-Cells has introduced a series of measures designed to reduce costs and modify its organizational structure, in order to return to profitability next year.

The company will now focus on producing cells and modules as its Malaysian site, which is expected to run at full capacity in the second half of the year. Production capacities for solar cells at the company's headquarters in Bitterfeld-Wolfen, Germany, will be permanently reduced by half. Meanwhile, the module production line for Q.PEAK crystalline modules is currently being ramped up in Bitterfeld-Wolfen.

Q.SMART thin-film modules technology will also be produced at full capacity again by subsidiary Solibro. Q-Cells is aiming for total production capacities between 1 GW and 1.2 GW in 2012.

In addition, the company plans to cut its administrative costs by 25% to 30% by ‘streamlining’ its organizational structure and ending the employment of temporary workers.

Finally, Andreas von Zitzewitz has been appointed chief operating officer of Q-Cells – a role that CEO Nedim Cen had temporarily assumed since Gerhard Rauter left the company. von Zitzewitz previously served as an executive board member at Conergy.


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