MiaSole Cutting Solar-Panel Manufacturing Jobs, Seeking Backers

MiaSole Inc., a closely held manufacturer of thin-film solar panels, cut an unspecified number of manufacturing jobs to conserve cash as it pursues potential partners.

“MiaSole will reorganize its workforce to retain employees in the technology, commercial and flexible product areas and make reductions in manufacturing and operations,” the Santa Clara, California-based company said in a statement yesterday on its website.

MiaSole in March received $55 million in funding from investors to reduce manufacturing costs, and Chief Executive Officer John Carrington is in discussions with potential partners to increase efficiency and expand sales according to the release.

“I am confident based on current discussions we will finalize a partnership within the next 60-90 days,” he said in the statement.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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