Friday, June 29, 2012

Schott Solar to close down NM plant

Schott Solar will close down its Albuquerque plant by the end of the summer, company officials said. Employees told Action 7 News that the company will cease manufacturing operations as of Friday, shedding more than 200 jobs. The company will then keep a small staff of around 50 through the end of the summer until it closes down the entire plant. Schott is offering a severance package of two months of pay and benefits, said employees, but most of them also said they'd much rather still be employed. The company plans to continue operations in the U.S., but not in New Mexico, Schott said. When the company announced plans for a plant in 2008, it was thought that the facility would employ 1,500 New Mexicans. The state, the federal government and the city of Albuquerque gave millions in tax breaks and incentives, believed to be worth more than $100 million overall. For example, the state said it dished out about $1.5 million in job training, while the city gave at least $14 million in LEDA infrastructure funding...more

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