Evergreen Solar CEO Explains Move To China

By Anthony Silva, WBZ NewsRadio 1030

BOSTON (CBS) – The Marlboro company that is moving most of its manufacturing to China is explaining why it has made that choice.

In a financial report, Evergreen Solar spells out in dollars and cents that the cost of the solar panels the company makes in Massachusetts were actually sold for a loss.

Evergreen says the manufacturing cost was $1.92 per watt, while the selling price was $1.90 per watt.

In an earlier interview with Evergreen Solar, CEO Michael El-Hillow talked about the challenge, telling WBZ News, “We want to stay fully employed in the US but unfortunately we can’t do that if we have to sell the product for a loss. And right now, we have to sell the product for a loss.”

El-Hillow says manufacturers in China have received massive government grants and loans to inexpensively ramp up production while keeping costs down. Evergreen will now focus on supplying low-cost solar wafers, a component in photovoltaic panels.

Evergreen is closing a $400 million dollar plant in Devens and eliminating about 800 jobs in Massachusetts after receiving about $31 million in state aid, tax cuts and other support.

Here’s Anthony Silva’s interview with Evergreen Solar CEO El-Hillow:

More from New England Business
  • 01608

    So u didn’t know b4 taking my $$$$?

  • TOTAL...

    .. B.S. and nothing but a fleecing of taxpayers. Typical of what goes on in this country today. Disgusting.

  • 2 cents

    This is a CRIME!!! The state should have know the cost of production and all of the information before they handed them millions of our hard earned tax money. They should be fined!!! Perhaps Mr Hillow should have paid more attention in his MBA program, what a LOSER

  • emom

    This company is a complete scammer, taking federal money to fund their business hire many americans but to only know in there imediate future they were going to go overseas…. HOW OUTRAGEOUS AND COMPLETLY LOW OF THEM TO SEVER TIES HERE IN THE STATE,.. i HOPE THE ALL CHOKE ON A SOLAR PANEL AND BURN IN YOU KNOW WHERE…… CROOKS

  • Stop the free money train

    How much would they save if they had to refund all the mony the took .

  • DStein

    This is what happens when Deval Patrick’s ideology gets in the way of good business sense. Deval was all too happy to blow our money on Evergreen Solar so he and his buddy Obama could talk about all these wonderful “green jobs” in the new “green economy”. What they forgot to tell us is the jobs being created are in China.

    Evergreen Solar isn’t the “green” first company to take taxpayer dollars and open up plants in China instead of here. Even General Electric is shedding jobs here in the U.S. while expanding its wind turbine manufacturing in China.

    Deval and Obama should come clean and tell people not to get their hopes up about any new job opportunities because the “green economy” is nothing but an Obama pipe dream.

  • Fernando costa

    “Solar Energy” Until today our Government. So has put the money in lixo.Pois spends his life helping companies of Energy. And they do the same in the past few years. Vao to China and Germany. Because it happens here in this democratic state?

  • http://boston.cbslocal.com/2011/03/31/patrick-evergreen-should-return-money-to-mass/ Patrick: Evergreen Should Return Money To Mass. « CBS Boston

    […] said Thursday that while Massachusetts “just about broke even” on the Evergreen deal, the factory closing was a blow, and not the commitment the company […]

  • http://wizbangblog.com/2011/08/15/obamas-green-jobs-fizzle/ Obama’s ‘green jobs’ fizzle | Wizbang

    […] this year in which a significant portion of the company’s manufacturing capabilities were relocated overseas, to China.This comes just a few days after President Obama visited another ‘green energy’ […]

  • http://www.gregautry.us/archives/387 We are at War and it is Time to Admit it » Greg Autry

    […] gotta wonder just what on Earth provoked this abrupt decision. Sure, Evergreen’s CEO was eager to blame America when his firm rushed to embrace China’s huge subsidies, currency manipulation scheme, […]

blog comments powered by Disqus
Taz Show
Download Weather App

Listen Live