Asahi Glass will reduce its solar output with the conversion of an existing Chinese plant to automotive production. Source: AGC Solar.
Asahi Glass will convert one of its solar glass factories in China to make automotive products.
The Japanese manufacturer cited intense investment by Chinese firms further driving down prices.
The company closed a PV glass plant in the US and shut a facility producing raw glass for the PV market in the Philippines in 2012.
“Profitability of the photovoltaic cover glass business is deteriorating as the situation of lower prices for such glass has not been improved, hurt by excessive supply,” read a statement released by the company.
The transformation of the factory will be carried out gradually from now until the first quarter of 2015 at a cost of ¥4.5 billion (US$45.8 million).
