Solar module manufacturer Solyndra plans to shut down Fab 1, its older manufacturing facility, and postpone its previously announced plans to expand Fab 2, its second factory.
The New York Times reports that the company expects to save approximately $60 million in capital expenditures by closing Fab 1. Solyndra plans to lay off approximately 40 employees and not renew contracts for approximately 150 temporary workers.
Solyndra may opt to reopen Fab 1 or expand Fab 2 if market conditions are favorable, the company told the Times.
SOURCE: New York Times