Sharp says to end solar panel production in U.S. by end-March

article_97979ede-f3f3-11e2-83d5-0019bb30f31a

closedJapan’s Sharp Corp (6753.T) said on Thursday it would stop making solar panels in the United States by the end of March, extending its overhaul of unprofitable operations in response to fierce competition from low-cost Chinese rivals. The U.S. shutdown would cost about 300 jobs, or two-thirds of the workforce, at a Sharp plant in Tennessee, a source with direct knowledge of the matter said. Sharp has been scrambling to repair its balance sheet since racking up a net loss of 545 billion yen ($5.23 billion) in the last business year through March 2013.

Leave a Reply

Your email address will not be published. Required fields are marked *

Reload Image
Enter Code*: