in News Departments > New & Noteworthy
print the content item

comments: 0

Amtech Systems Inc., a supplier of production and automation systems and related supplies for the manufacture of solar cells and other products, plans to put into place several cost-reduction measures in order to weather the current difficult market environment.

The company expects the changes will generate annual cost savings of $6 million to $7 million in fiscal 2013, when compared to the company's annualized expense run rate in the first half of fiscal 2012.

The savings will come primarily from selling, general and administrative, and non-essential research and development costs. The cost reduction programs include voluntary salary reductions by the officers of the company ranging from 10% to 20% and salary reductions of other corporate staff.

"When the solar headwinds became readily apparent in the middle of 2011, we took aggressive action and immediately began reducing our costs, including headcount and discretionary costs," says Fokko Pentinga, CEO of Amtech.

"Due to the continuation and severity of the downturn, we are implementing even more extensive measures in the current quarter to reduce the cost structure of our corporate and solar operations, from which we expect to produce significant annual cost savings in fiscal 2013," Pentiga continues.



IronRidge_id1414

Surrette_id1409
Latest Top Stories

SolarCity Strikes An East-West Pose In Its New Commercial Mounting System

The first major new product release from SolarCity's Zep Solar business unit since last year's merger reveals new opportunities in the commercial solar space.


Central America's Heart Set On Solar With New Government Tenders

Big deals in El Salvador and Honduras point toward a surge in photovoltaic capacity in the region.


Con Edison To Meet Overload With Storage And Demand Management

Rather than dropping $1 billion on infrastructure to meet overload forecasts, the venerable electric utility is proposing a novel package of customer-side load management programs that could serve as a model for other energy providers.


U.S. And China Account For Over Half The World's PV Pipeline

While the usual suspects continue building photovoltaic projects at a breakneck pace, two new players are emerging with impressive capacity growth.


Buoyed By Business Deals, Solar Dominates New U.S. Cleantech Jobs

A hot solar sector helped double the number of new clean energy and transportation jobs in the second quarter of the year compared with the first.

SilcoTek
Lufft_id1410
S&C Electric_id1352
CanSolIndus_id1429
WIP_id1320
Future Energy_id1428
PVcobra_id1394