Masdar PV

Type
Closure
Country
Germany
Region
Thüringen; Thüringen; Ilm-Kreis
Location of affected unit(s)
Ichtershausen
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26.1 - Manufacture of electronic components and boards
26.11 - Manufacture of electronic components
160 jobs
Number of planned job losses
Job loss
Announcement Date
22 May 2014
Employment effect (start)
22 May 2014
Foreseen end date
31 December 2014

Description

Photovoltaic producer Masdar PV is to cut 160 jobs at its manufacturing site in Ichtershausen. The factory will be closed by the end of 2014. According to a company statement the deteriorating situation in the solar industry is the main reason for the closure and that due to global oversupply, small manufacturers like Masdar PV is hard to survive due to low prices. As reported the company aims to provide support to the affected workforce.

Sources

  • 23 May 2014: Thüringer Allgemeine
  • 22 May 2014: Focus Online
  • 27 May 2014: IWR

Citation

Eurofound (2014), Masdar PV, Closure in Germany, factsheet number 77141, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77141.