Solar equipment firms have been facing financial troubles as customers have not been able to take deliveries. The oversupply problem in the solar market has been causing downstream firms to reduce capex and halt expansions. Due to limited orders, solar equipment firms have reportedly laid off employees to cut down costs.
Germany-based solar equipment firm Centrotherm announced in June that the firm was facing credit line issues.
According to foreign press, NPC, a Japan-based solar cell simulator equipment firm, plans to cut salaries and lay off workers to reduce investments in the solar cell equipment business.
Industry sources noted that downstream solar firms continue to be reluctant about expanding capacity. Solar equipment sits idle at docks in China, added industry sources.
Article translated by Jackie Chang
