Tokyo Electron has announced that its board of directors has given the consent to its proposal to discontinue the solar photovoltaic (PV) panel production business by the end of March 2014.
The company decided to withdraw from that business owing to the production overcapacity and an unfavourable market condition.
In 2009, Tokyo Electron had been named as the Asia-Oceania region sales representative for Oerlikon Solar and in the same year it started sales and marketing of an end-to-end manufacturing line for the production of thin film silicon PV panels.
The company had acquired Oerlikon Solar in 2012, a year in which it made a full-fledged entry into the thin-film silicon PV panel market.
Tokyo Electron is considering to move its employees within the solar equipment manufacturing segment to some other positions within the group.
Following downsizing of solar PV panel production business, the company is also planning to implement streamlining via reductions in personnel at its subsidiary in Switzerland.
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By GlobalDataTokyo Electron is engaged in the manufacture of electronic components and computer networks, semiconductor production equipment, and flat panel display and photovoltaic panel production equipment.
