Newsclip®: [Business] GE closing Pennsylvania solar inverter plant on weak demand - SeeNews Renewables

"May 11 (SeeNews) - General Electric Co (NYSE:GE) is closing its solar inverter plant in Pennsylvania by the end of 2016 due to low demand, the Pittsburgh Post-Gazette reported Tuesday, citing a company representative. Tim Waldee, who is in charge of the Blawnox plant, told the paper there is no sustainable demand after the third quarter of 2016. Roughly 250 employees will be let go. A further 130 will either be moved to Houston, Texas, where GE Power Conversion is relocating its headquarters, or work in other locations. Information on the severance packages and other benefits will be available next week, Waldee was cited as saying. GE took hold of the Blawnox site, located at the RIDC Industrial Park, via the USD-3.2-billion (EUR 2.8bn) acquisition of French company Converteam in 2011. At the time, the target had 5,300 employees in 17 countries. The US is expected to rank second after China in terms of solar photovoltaic (PV) demand between now and 2020 with over 70 GW",

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