Tatung’s solar wafer unit to liquidate as sector struggles (2019/07/16)

  • 2019-07-16
  • Winnie Cheng

Solar wafer maker Green Energy Technology said its board had approved a proposal to dissolve the company. The firm said it was unable to improve its bottom line because solar wafers were selling at less than what they cost to make. It plans to lay off 284 employees and to hold a shareholders’ meeting on Aug. 30 to discuss the liquidation plan.

Green Energy Technology is a subsidiary of the embattled Datung Company, which has delisted three units since May. Following news that Datung was shedding its solar asset, Datung stock rose to end up 2.37%.