New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 10, 2014
07:02 EDTSUNESunEdison announces cost reduction actions in Italy and Missouri operations
SunEdison announced that it will indefinitely close its shuttered polysilicon manufacturing facility in Merano, Italy immediately. The Merano polysilicon facility was shuttered in December of 2011 as part of a restructuring plan to better align the business with current and expected market conditions and improve overall cost competitiveness. For the past two years SunEdison explored various options to improve the cost effectiveness of the Merano polysilicon facility. Ultimately, the identified cost reductions were not enough to sustain the economic viability of the plant in the current market environment. The indefinite closure will affect approximately 200 employees at the Merano polysilicon plant. In connection with the closure, the associated electronic grade TCS operation will be closed over the next 12 months. As a result of the decision to indefinitely close the polysilicon manufacturing facility and TCS operation, we expect to record approximately $37M of fixed asset impairments for the year-ended December 31, 2013. SunEdison will also commence a plan to consolidate its semiconductor crystal operations. The consolidation will include the transitioning of small diameter crystal activities in its St. Peters, Missouri facility to its other crystal facilities in Korea, Taiwan and Italy. The crystal manufacturing consolidation will affect approximately 100 employees in St. Peters and will be implemented over the next 12 months.
News For SUNE From The Last 14 Days
Check below for free stories on SUNE the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 9, 2014
16:00 EDTSUNEOptions Update; April 9, 2014
Subscribe for More Information
April 7, 2014
07:39 EDTSUNEBloomberg to hold a summit
The Future of Energy Summit 2014 is being held in New York on April 7-9.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use