First Solar to delay closing of German plant

6/13/2012

TEMPE, Ariz. -- First Solar Inc., the world's largest maker of thin-film solar panels, said Tuesday that it will delay the closing of a German plant until the end of this year to meet unexpected strong demand in Europe.

The company, which got its start in Toledo, said it is increasing production now at its factory in Frankfurt an der Oder, Germany, and will scale back in the fourth quarter. The company had planned to shutter the plant in October as part of a global restructuring.

First Solar shares rose $2.62 to close at $14.95 a share, their biggest gain since April, 2009.