LG Electronic devices announce leave from the worldwide solar panel company.


The firm’s decision is expected to impact nearly 160 of its staff members in the US.

South Korea-based electronic devices business LG Electronic devices have determined to leave the worldwide solar panel market to focus on other energy-related businesses.

The firm intends to concentrate on other development industries, including power storage space systems and house power management, moving forward.

LG’s board of supervisors in South Korea authorized the decision, mentioning the influences of increasing material and logistics costs and supply restrictions.

LG Electronics North America president and chief executive officer Thomas Yoon stated: “While leaving the solar panel service, LG focuses on products and services that can also have a more substantial influence.

” Sustainability is a core organization concept at LG Electronics. We constantly evaluate how LG can open potential, create greater worth, and sustain our vision for a far better life for all.”

The decision to leave the solar panel business is expected to impact nearly 160 staff members and 60 agreement personnel working at LG’s company school in Huntsville, Alabama.

The company holds meetings with its affected employees to determine future possibilities within other LG organizations and units.

LG has been putting together photovoltaic panels at its Alabama center because 2018, with the factory expected to continue production right into the 2nd quarter of this year.

The firm aims to shut its photovoltaic panel manufacturing activities over the coming weeks but will undoubtedly continue serving its US solar consumers and honoring the limited guarantees of each item sold.

Brian Santiago

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