AE Polysilicon = Dead on Arrival- RIP

AE Polysilicon = Dead on Arrival- RIP

Posted in the Levittown Forum

Solar

Feasterville Trevose, PA

#1 Jun 4, 2012
Motech shuts down AE Polysilicon

Motech has shut down its polysilicon subsidiary, AE Polysilicon Corporation, the company announced today.

May 29 2012, 2:23 PM
Despite “numerous efforts to improve the price competitiveness of its products,” the company said changes in the solar industry and a lack of economies of scale led to their decision to cease production.“To protect the rights and interests of AEP’s creditors and shareholders, the board of directors of AEP had adopted a resolution to undertake measures, including initiating workforce reductions, proceeding with a safe-shutdown of its manufacturing facilities, and conducting an asset sale," a statement by the company said.The proposal to sell assets is pending approval by the stockholders

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