STR Holdings to shut down Malaysian factory
Post date: 30/07/2015 - 01:00
US module encapsulant manufacturer STR Holdings Inc. announced that its encapsulant factory in Malaysia will shut down at the beginning of August. The company said that the closing of the manufacturing facility was due to the recent decision by the company's largest customer to exit its OEM module production in Malaysia. Furthemore, STR Holdings stressed that the anti-dumping and countervailing duties on solar cells and modules consigned from China and assembled in Malaysia and Taiwan recently imposed by the US were, among other things, another reason for the closing of the facility.
»Unfortunately, the conditions at our factory in Malaysia have changed to the point where it is no longer economical to continue production. On a positive note, we expect the closure and liquidation of assets at this facility to ultimately strengthen our cash position and increase utilization in our Spanish and Chinese factories as work is repositioned,« said the company’s CEO Robert S. Yorgensen.
STR Holdings production facility in Suzhou, China, became fully operational in November 2014, after beginning operations during the second quarter. The factory has reached an annual production capacity of 1.2 GW. The company has current a combined capacity of 2.2 GW at its Chinese factories.