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.



SolarEnergyTradeShow_id1384

Solar Careers
Latest Top Stories

Fees For DG Solar Fire Up Advocates And Utilities In Utah And Massachusetts

Regulatory hearings in Utah and legislative wrangles in Massachusetts are two of the latest examples of the transformative effect distributed generation (DG) solar is having on the U.S. electric power industry.


Report Benchmarks U.S. Electric Utility Clean Energy Deployment

As the U.S. Environmental Protection Agency prepares for its listening sessions on its Clean Power Plan for existing power plants next week, a new report ranks the cleantech performance of nation’s largest electric utilities.


Solar Sector Fears WTO Ruling Against Tariffs Won't Save The U.S. From Itself

Although the WTO says U.S. anti-dumping tariffs levied on Chinese PV manufacturers are improper, few expect the ruling to prevent a rise in module prices.


Xcel Energy Offers Solar*Rewards 'Bridge' For Colorado Solar Installations

As an incentive for the continued development of customer-sited solar, Public Service Co. of Colorado has agreed to advance capacity for its popular Solar*Rewards program.


Flexible Sources Key To Integrating Solar PV Into Utility Operations

A report from three U.S. Department of Energy labs proposes a framework for integrating various amounts of PV into the grid.

S&C Electric_id1352
Lufft_id
WIP_id1320
SnakeTray_id1373
PVcobra_id1394