Justin Moresco, Associate Editor, Power Engineering
May 13, 2013 | 2 Comments
Tulsa, OK -- SoloPower, a manufacturer of photovoltaic solar modules, sold thousands of dollars' worth of equipment from its California headquarters last week and is preparing for more layoffs, according to a report from the Oregonian.
The company recently avoided foreclosure on its Portland equipment by making a last-minute $50,800 payment on a $10 million loan from the Oregon Department of Energy, according to the report. The auction of the company’s California equipment came a week after the company laid off 61 employees in California. The company also plans to cut 33 more jobs in California in June and will shut down its plant in North Portland and lay off 29 employees there.
Most of the high-priced auction items did not attract many bids, according to the Oregonian. A cell sorting a cutting machine valued at $1.1 million had a $25,000 minimum bid, but no one placed a bid as most buyers purchased smaller items such as plastic carts, tool chests, filing cabinets and other machines.
This article was originally published on Power Engineering and was republished with permission.
Lead image: Sale via Shutterstock