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Applied Materials to shift solar wafer manufacturing to Asia

Posted: 11 May 2012     Print Version  Bookmark and Share

Keywords:photovoltaic  LED  restructuring  job cuts  solar wafer manufacturing 

Applied Materials Inc., a provider of equipment, services and software to the semiconductor, flat panel display and solar photovoltaic industries, is restructuring its energy and environmental solutions (EES) business to cope with challenging conditions in the industry.

The company said it expects to record pre-tax restructuring charges between Rs.357.14 crore ($70 million) and Rs.510.20 crore ($100 million) over the next 12 to 18 months, beginning in the third quarter of fiscal 2012.

The restructuring plan will affect about 250 employees globally, the company said in its filing.

In addition, Applied Materials plans to relocate its solar wafer manufacturing facilities to Asia from Cheseaux, Switzerland.

"As part of the restructuring plan, Applied Materials expects to relocate manufacturing for its precision wafering system (PWS) solar business based in Cheseaux, Switzerland to Asia. PWS business operations and customer support functions will be relocated primarily to Treviso, Italy, and Xi'an, China. However, PWS's headquarters and new product development will remain in Switzerland."

The strategy also includes significant reductions in development activities for LED, the company added. "Workforce-related actions will be finalized and implemented in accordance with local legal requirements and in consultation with employees and employee representative bodies, as required."

The company also expects as much as Rs.280.61 crore ($55 million) in cash expenditures under its plan.

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