Sunfilm Files For Bankruptcy
Sunfilm which manufactures amorphous silicon modules (a-Si), has filed for insolvency claiming its business plans have been crippled by Germany's plans to sharply reduce its solar feed-in tariff by July 1st. In addition, the past year has seen the thin-film industry lose some of its competitive edge to crystalline silicon modules, which have higher efficiencies, and have seen huge price reductions due to the financial crisis.
Last year Sunfilm, became one of the world's largest thin-film outfits with a combined production capacity of 145 megawatts, when it merged with Sontor. Sunfilm's financial backers included Q-Cells, Good Energies and Norsun. By late 2009 Q-Cells - which suffered huge losses of its own last year - had written down its investment to zero.
Sunfilm chairman Wolfgang Heinze says that by filing for insolvency, the firm is "aiming for a strategic realignment of the company with a new investor". "The current market conditions and feed-in tariff discussions hit Sunfilm at an already difficult stage of its market entry," the firm says. "The shareholders have stopped their financial support."
The bankruptcy will affect 300 employees who had been on reduced shifts since the end of 2009.
Sunfilm's decision comes at a difficult time for US-based solar equipment manufacturer Applied Materials. Sunfilm uses SunFab technology at its production line in Grossroehrsdorf. Appled Materials had until lately intended to capitalise on the rise of the thin-film segment with its SunFab production line. Applied Materials has recently downsized its hopes for the a-Si sector, and has reportedly begun letting go workers dedicated to its SunFab line.
