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Monday, 21 November 2011

SilexSolar Suspends All Manufacturing Operations

Sydney, Australia
In August 2011, SilexSolar announced a major restructure of its PV panel business including a major cost reduction program and the replacement of cells made by Silex with cells from new strategic partner Hareon Solar.

Since then, the Australian PV panel market has continued to deteriorate. Sales volumes have been decimated by the abandonment of reasonable support policies from various governments, and panel prices have plummeted under the strain of a massive oversupply across the global PV market. The high Australian dollar has completed a trifecta of negative market factors for SilexSolar.

As a result of these and other factors, SilexSolar has decided to suspend all manufacturing operations and place the plant in "care and maintenance‟ mode until the future direction of the business can be determined. Most of the manufacturing employees have been made redundant, along with several engineering, technical and administrative staff. These and other measures have dramatically reduced ongoing costs. SilexSolar has sufficient inventory to support sales over the next few months, and will focus on sales in the residential rooftop market as well as opportunities in the commercial medium-scale project market.

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