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Solaria to Begin Talks on Reducing Staff at Plant in Spain

Aug. 31 (Bloomberg) -- Solaria Energia Medio Ambiente SA, Spain’s only publicly traded solar company, said it will begin talks to cut jobs at its factory in Puertollano, Spain.

The factory employs 290 workers, and the discussions aim to “bring resources and labor costs in line with activity in the photovoltaic sector,” Madrid-based Solaria said today in a statement on its website.

Solaria said manufacturing will remain one of its principal business areas, and it’ll explore setting up new plants in nations around the world where the markets are “more favorable.”

In an earlier statement, Solaria said it lost 6.6 million euros ($8.3 million) in the first six months of 2012, down from a profit of 516,000 euros in the same period a year ago.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net.

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

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