SolarWorld reports Q3 loss, confirms Hillsboro layoffs
By Suzanne Stevens
Digital managing editor
SolarWorld reported a 47 percent dip in third-quarter revenue Thursday and said it was laying off 30 mostly administrative workers in Hillsboro.
SolarWorld may have won a battle against Chinese solar panel manufacturers, but pricing pressure still hit the company's third-quarter performance and contributed to a decision to lay off 30 in Hillsboro.
SolarWorld AG, a German company whose U.S. subsidiary is in Hillsboro, reported Wednesday that while shipments were up by 13 percent, revenue dropped by 47 percent to $164 million. A contributing factor, according to the company, was cheap prices forced in part by lower-cost Chinese imports.
The company led a coalition that successfully lobbied for tariffs on Chinese imports, but a spokesman told the Oregonian Thursday that those tariffs have yet to take affect and that loopholes are still allowing less-costly imports.
The pricing pressure led SolarWorld to lay off about 30 mostly administrative workers in Hillsboro.
SolarWorld maintains a 97-acre campus in Hillsboro with an output of about 500 megawatts worth of photovoltaic production capacity.
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