Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Tokyo Electron Will Stop Making Solar Panel Production Equipment

Jan. 30 (Bloomberg) -- Tokyo Electron Ltd., the chipmaking equipment supplier that agreed to be bought by Applied Materials Inc., will stop making and selling equipment used to make solar panels at the end of March.

The decision comes amid a weak business environment because of an oversupply of production equipment, Tokyo Electron said in a statement today. Tokyo Electron acquired Oerlikon Solar, the photovoltaics unit of Swiss industrial equipment maker OC Oerlikon Corp., in 2012 for an enterprise value of 250 million Swiss francs ($278 million).

“Amid uncertainties of a recovery in the market environment, we have decided to scale down our business structure,” the Tokyo-based company said in the statement. Support for units already delivered will continue.

Tokyo Electron plans to reassign employees in the solar business to other positions, according to the statement. The company will consider cutting jobs at the Swiss subsidiary, now called TEL Solar AG.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.