STR to Lose First Solar as Customer, Hires UBS to Review Options
Stock Chart for STR Holdings Inc (STRI)
First Solar, the largest maker of thin-film photovoltaic panels, “will begin a transition away from STR in the first quarter of 2013,” the Enfield, Connecticut-based company said today in a statement.
First Solar accounted for about $39 million in sales for STR last year, according to the statement. Analysts expect STR to report total sales of $94.7 million for 2012. STR had $81.9 million in cash at the end of the year.
STR said its decision to hire UBS in December wasn’t related to losing First Solar.
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