So they LOST $308 MILLION after ALL THOSE TAXPAYER-SUPPORTED YEARS -- and NOW they are MOVING?
"Evergreen Solar to shift some operations to China" by Erin Ailworth, Globe Staff | November 4, 2009
Little more than a year after cutting the ribbon at a new factory in Devens built with more than $58 million in state aid, Evergreen Solar today said it will shift its assembly of solar panels from there to China.
About half of the 577 full-time and 230 contract employees at the Devens factory are involved in putting the panels together. However Evergreen declined to say about how many of those jobs would disappear with the scheduled transfer next year to China, where it is expanding because of lower costs.... The wafers and cells will still be manufactured at Devens, but the final assembly of the solar panels will move to China.
Okay, the "environmental green company" is going to SHIP OVERSEAS to ASSEMBLE and then SHIP BACK, huh?
Also see: Recycling is Bad for the Environment
Hey, at least you HELPED with the BOX that it was SENT BACK IN, right, Americans? Where is OUR RECYCLING INDUSTRY, huh?
And the CARBON FOOTPRINT? No mention!
In a statement tonight, Evergreen said it "remains committed to the investment it has made in Massachusetts....
Well, YOU KNOW what that statement is full off, folks!
In exchange for receiving $58.6 million in grants, loans, land, tax incentives and other aid to build in Massachusetts, Evergreen pledged that it would add 350 new jobs, a goal that it has, to date, far surpassed. However....
Pffft!
The company has been a poster child of the Patrick administration's efforts to develop a "green energy" industry cluster in Massachusetts. But it has been struggling financially because of increased competition from overseas producers and rapidly falling prices for solar products.
If RIPPING OFF TAXPAYERS to the tune of $76 MILLION is a POSTER, he's DONE!
It recently persuaded the state to lend it another $5 million to cover equipment purchases, though the state has not yet released the funds.
If they do now.... !!!
Massachusetts's top environmental official expressed dismay at Evergreen's decision to stop assembling the panels in Devens. "Governor Patrick and I are disappointed by Evergreen Solar's decision to begin moving the final panel assembly component of their business to China," said Ian Bowles, secretary of the state's Executive Office of Energy and Environmental Affairs. "In just two short years, Evergreen Solar has become a significant employer in Massachusetts and we will work hard to make sure the company protects the maximum number of jobs in our state."
What does that mean? Give them MORE TAX LOOT?!!!!!
The company disclosed the China relocation in the filing of its earnings for the third-quarter of 2009. Through the first nine months of this year Evergreen lost $167 million, compared to $33.6 million for the same period last year. The company's stock closed at $1.42 today, down 6 cents.
Hey, I CAN BUY some SHARES!! That CAN'T BE GOOD!!!!
In explaining the move to China, Evergreen chief executive Richard M. Feldt said in the company's filing today that prices for assembled panels have fallen more than 30 percent in just the last year, making it "very difficult for manufacturers located in high cost regions to remain price competitive." Earlier this year, Evergreen executives unveiled plans to expand in Wuhan, China, where they said they expected to be able to make solar panels for about $1.50 a watt -- far cheaper than they could at Devens.
Related:
"My view is that the legislation will create clean energy jobs that cannot be shipped overseas" -- Representative Edward Markey of Massachusetts, chairman of the House Select Committee on Energy Independence and Global Warming"
I thought these were the GOOD JOBS that CAN'T be MOVED, Ed?
LIAR!
Feldt did say that Evergreen could increase production of wafers and cells at Devens "if market demand warrants."
Promises, promises.... Then WHY YOU MOVIN'?
In an interview with the Globe last month chief financial officer Michael El-Hillow said he expected some jobs at Devens to be eliminated with a move to China. However, he added those losses would likely be somewhat offset with a boost in production of wafers and cells.
PFFFFFFFFFTTTT!
Also see: The Boston Globe's Invisible Ink: Jobs Gone Forever
Globalist Gore's Gas is Green
