BP Solar Closes Thin Film Operations [RE-wrenches]

[Graham Owen]

The following press release was issued on 21st November 2002:

BP Solar Repositions for Growth
November 21, 2002, New York, NY:  In a move to facilitate 
continued growth, BP Solar today announced a 
repositioning plan that includes some portfolio adjustments.  
The company will concentrate on its key markets supported 
by growth in worldwide manufacturing of its crystalline-
based products, and will cease manufacturing its thin film 
solar modules.  

"BP Solar is positioning itself to continue sales growth of 
roughly 30 percent per year," said Harry Shimp, BP Solar 
president and CEO. "That means focusing our resources on 
those markets and technologies that offer the best 
probability of success. Crystalline production capacity 
represents more than 85 percent of BP Solar's global 
manufacturing operations, and recent technical and 
manufacturing cost improvements bode well for its future."

Thin film manufacturing will be halted at the Fairfield, 
California facility and the facility will be converted to serve 
as the center for North America warehousing and 
distribution as well as the West Coast base for sales and 
marketing. The company will also close its Toano, Virginia 
thin film plant if it cannot identify a buyer by end of 2002. 
The associated technology center will close immediately. 
The plant closures will result in the elimination of about 
260 jobs: 100 in Fairfield and 160 in Toano, although some 
145 manufacturing jobs may transfer to a new operator.

On the exit from thin film manufacturing, Shimp said, "We 
have worked very hard with the National Renewable 
Energy Laboratory and other partners on the research and 
development of thin film technology.  However, while the 
technology continues to show promise, lack of material 
demand and present economics do not allow for continued 
investment."

"The decision to exit the thin film business was made more 
difficult by the impact of these plant closures on a very 
dedicated and hard working group of employees," Shimp 
said.  Affected employees will receive a comprehensive 
severance package from the company.

In the next few months, BP Solar will launch an industry 
first:  a branded sales and marketing initiative designed to 
connect homeowners with affordable solar electric systems.  
After extensive market research, BP Solar intends to roll 
out the program in California in January and duplicate it 
elsewhere around the world.

BP Solar, headquartered in Linthicum, MD, is one of the 
world's largest solar electric companies with nearly 20 
percent of global market share and approximately 300 
million dollars in revenues.  The company has product deployed in 
over 160 countries, operates manufacturing plants in the 
U.S., Spain, Australia, and India, and employs nearly 2,000 
people in its facilities and offices worldwide.

Visit BP Solar on the Internet at: http://www.bpsolar.com

Editor's Notes:  
BP Solar has crystalline plants in the US, Spain, India, and 
Australia.

On November 18, BP Solar announced the expansion of its 
factory in Homebush, Sydney.  The factory expansion 
includes automated production machinery worth some 12 
million dollars ($AUS), which will result in a 40% increase to that 
production line to an annual output of 35 megawatts.  This 
investment has resulted in an increase in employment to 
over 300 people.

BP Solar expects to double current crystalline capacity in 
2004

Contact:
Sarah Howell, Director, Environmental and Corp. 
Communications
Tel:  213 486-0154  Cell:  917.882.3714

http://www.bp.com

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