in News Departments > New & Noteworthy
print the content item

comments: 0

GT Advanced Technologies (GTAT), a provider of crystal growth equipment for the PV manufacturing industry and other sectors, says it is reorganizing its worldwide operations in the face of difficult market conditions.

GTAT will consolidate its existing business units into a single crystal growth systems (CGS) group and reduce its workforce by approximately 25%. When fully implemented, the workforce reduction is expected to decrease the company's annualized expenses by approximately $13 million.

Under the new business structure, Dan Squiller has taken on the role of president of the company's new CGS business group. The CGS group combines the PV, polysilicon and sapphire business units, as well as worldwide operations. David Keck will assume the role of executive vice president and general manager of the PV and polysilicon unit, and Cheryl Diuguid will continue to lead the sapphire business unit as executive vice president and general manager.

"It is becoming increasingly clear that some of our Asian customers are experiencing severe financial difficulties brought on by a number of economic and trade-related challenges," says Tom Gutierrez, president and chief executive officer. "We are not immune to these headwinds, and we are taking actions to prepare for what is likely to be a challenging 2013 in our core markets."

Gutierrez adds that long-term, the company expects to see a turnaround in the solar sector, driven by new technologies and cost reductions.



SolarEnergyTradeShow_id1384

Surrette_id1386
Latest Top Stories

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.


PV Industry Leaders See A 'Second Gold Rush' Coming In The Solar Sector

A panel of solar sector executives from across the PV supply chain at Intersolar North America says the widespread adoption of distributed generation energy sources is inevitable.


Residential Solar Energy Storage Examined As A Promising Grid Resource

California's 200 MW carve-out for customer-side grid energy storage is bringing a variety of stakeholders together to tackle unique technology and policy issues.

S&C Electric_id1352
Lufft_id
PVcobra_id1394
SnakeTray_id1373
WIP_id1320