Loss making Photowatt France has taken another hit, with owner ATS Automation cancelling silicon and wafer contracts valued at approximately €180 million over 6-years at a cost of €32 million. ATS Automation noted that the supply agreements were no longer needed as part of planned manufacturing output.
Photowatt’s most recent quarterly results indicated a loss from operations of CAD $11.2 million, despite higher module shipments of 14.7MW, compared with 11.4MW a year ago. ATS Automation has stopped in-house module production in France and has outsourced assembly work, while it continues to plan for a sale of the French subsidiary.