
Inverter manufacturer KACO New Energy will cut 80 jobs from its German operations as it looks to refocus on markets beyond Europe.
The company said in a statement released on Friday that it would look to move some staff to other regions and took a swipe at European policymakers at the same time.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
“The future of the PV markets lies in America, Asia, Africa and the Middle East. These regions recognise the potential of photovoltaics as a key technology for electricity generation; policy-makers there appreciate the significant role that solar energy plays in securing the competitive ability of national economies.”
KACO also plans to target utility and commercial scale markets as part of an extensive restructuring of its Neckarsulm production site.
“We are pursuing growth through refining our focus. The aims are clear: to achieve profitable growth and to considerably simplify structures,” said Ralf Hofmann, managing director, KACO New Energy. “For the company headquarters in Neckarsulm, this will mean cutting 80 positions through a socially balanced procedure in consultation with employee representatives. Part of the restructuring will see certain remits being transferred to subsidiaries in the USA and South Korea,” he added.
The company statement also confirmed that Neckarsulm will continue to host its management even though it views overseas markets as the path to “long-term global success”.
Asian inverter manufacturers have eaten away at the market share of European competitors in recent years with former market leader SMA forced into a major period of restructuring in order to return to profitability.