Skip to comments.Solar Power assets up for sale
Posted on 09/06/2012 4:59:47 AM PDT by RS_Rider
The assets of a solar panel manufacturer that employed more than 200 workers in Westmoreland County a few years ago will be auctioned off starting Sept. 18.
Solar Power Industries Inc. has said it fell victim to competition from Chinese companies that could make cheaper silicon wafers and solar cells used to generate electricity, and to a drop in demand for its products.
The Rostraver-based company manufactured wafers and cells in plants there, and in part of the former Sony Corp. plant in East Huntingdon.
Auction servicer Heritage Global Partners said in an announcement Wednesday that it first will consider bulk offers for all of Solar Powers assets, including assumption of a lease in order to continue operations, when the sale starts on Sept. 18.
If there are no takers, offers then would be considered for all assets to be removed, with no lease, but equipment also could be sold piecemeal in an online auction on Sept. 19 and 20.
Craig Thompson of San Diego-based Heritage Global said Solar Power still is in operation, but he doesnt know how many workers remain.
A spokesman for the company couldnt be reached for comment. CEO John A. Skiavo of the Economic Growth Connection of Westmoreland declined to comment.
Thompson said Heritage Global handles a lot of solar industry auctions, and expects a significant number of worldwide buyers.
Read more: http://triblive.com/home/2547814-74/solar-power-assets-sale-sept-company-global-heritage-million-rostraver#ixzz25gqLhwdI Follow us: @triblive on Twitter | triblive on Facebook
(Excerpt) Read more at triblive.com ...
Other times, it's night.
That’s too bad. I hope they can carry on with a new owner. I just bought 20 US-made panels for my system.
I think it will depend on the political affiliation of a potential new owner.
Western Pennsylvania has been proven to get fewer sunny days than almost any other region of the country.
Which is of course why we subsidized solar panels here.
How much OUR MONEY did Obama lose this time?????????????
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.