Panasonic to End Solar Panel Production in Hungary, Cut 550 Jobs
Stock Chart for Panasonic Corp (6752)
Panasonic Corp. (6752), a Japanese electronics maker, will close a solar panel manufacturing plant in Hungary to consolidate production in Malaysia and Japan.
The company, which began developing solar panels in 1975, plans to end production in September and dismiss about 550 workers at the factory, spokeswoman Chieko Gyobu said by phone today, responding to a report in the Nikkei newspaper.
Panasonic will transfer production equipment at the Hungarian plant to factories in Malaysia and Japan to keep module production capacity at 900 megawatts a year, she said.
The company’s plant in Oregon ended solar wafer production at the end of June while continuing to make silicon ingots, according to the spokeswoman.
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