News
BP exits solar sector after numbers don't add up
A document announcing the decision to the 100 employees (including 36 in the US) who will be affected says changes in the solar industry have left BP unable to achieve sufficient margins in the sector. Employees were notified last week.
December 21, 2011
in Fox News
BP is preparing to wind down its BP Solar unit and sell-off the stakes it has in various projects around the world.
A document announcing the decision to the 100 employees (including 36 in the US) who will be affected says changes in the solar industry have left BP unable to achieve sufficient margins in the sector. Employees were notified last week.
"BP's goal is to profitably grow in specific segments of the energy industry," says a BP spokesman in the US. "... This decision was very difficult given the company's nearly 40 year history in solar energy" -- BP's traces its... [continue via Web link]
Filed under
:
General
| < prev | next > |
Note: this article may be subject to the Fair Use Notice.