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Billerica Solar-Panel Plant To Close, Lay Off About 200

This article is more than 11 years old.

A solar-panel manufacturer plans to close its Billerica plant in July, eliminating as many as 200 jobs.

Schott Solar will move its Billerica operations to a new plant in Albuquerque, N.M.

Mark Finocchario, Schott Solar president and CEO, said the decision to close the plant was made in response to a decrease in sales.

"There is a great future for renewable energy products, but it's not immune from short-term economic conditions right now," he said.

Finocchario attributes the slowdown in part to the fact that many potential customers appear to be waiting to buy solar panels, believing stimulus money going to companies like Schott Solar will bring down prices.

Finocchario adds that stimulus funds "are not deployed to the general market, they are still tied up in treasury."

The company will try to place laid-off employees at Schott's other plants around the country.

However, Finocchario estimates that there are only about two dozen openings for such placements.

This program aired on June 3, 2009. The audio for this program is not available.

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