in News Departments > New & Noteworthy
print the content item

comments: 0

Solar encapsulant provider STR Holdings Inc. says it expects that First Solar Inc., a long-standing customer, will terminate its relationship with the company this year.

Though the exact timing remains uncertain, STR Holdings believes that First Solar will begin a transition away from STR in the first quarter, completely cutting over to a new supplier during the course of the next few months.

First Solar is STR's largest customer, and such a loss is likely to have a materially adverse effect on STR's business and financial results, the company says. Sales to First Solar during 2012 were approximately $39 million.

"We have had no claim for defective product from First Solar, nor have we had any returns, and the product we have been supplying for years has been according to specification," says Robert S. Yorgensen, president and CEO of STR.

As a result of the First Solar loss, STR plans to cease manufacturing operations at its East Windsor, Conn., facility by the end of the first quarter and make significant headcount reductions throughout the organization. The company plans to service its North American customer base from its production facilities in Spain and Malaysia.



IronRidge_id1414

ModSolar_B_id1435
Latest Top Stories

TVA Reconsiders Solar's Role And Value In New Resource Plan And Grid Study

Critics point to wide variations in caps and premiums paid for solar under the Tennessee Valley Authority's (TVA) current plan. The utility agency says it will incorporate more solar stakeholders in future programs.


After Massachusetts' 'Godfather Of Solar' Exits, Will The New Gov. Step Up?

Bay State solar developers and suppliers look back on the legacy of Gov. Deval Patrick while awaiting Massachusetts’ incoming chief executive.


Do PV Customers Benefit From Incentive Programs In California?

Government incentives, such as the California Solar Initiative, have been instrumental in the growth of the photovoltaic industry over the past decade. Researchers have studied the degree to which these incentives have been passed on to PV customers.


Volatility Creeping Into Mass. Solar Sector Shakes Up Larger Developers

Players in the so-called "managed growth" sector of the commonwealth - 6 MW and larger - are concerned that the field keeps shifting under their feet.


New UL Energy Storage Standard Aims For Better, Safer Renewable Power

As the Talking Heads said, "Things fall apart. It's scientific." UL is turning its scientific study of how and why things fail to produce a testing and certification regime for building better renewable energy grids.

CanSolIndus_id1429
GoIndustry (UK) Limited_id1446
Heilind_id1430
PVcobra_id1394
Ingeteam_id1433