Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
REC, headquartered in Oslo, Norway, is the world's largest producer of solar grade silicon and wafers for solar applications, as well as a significant producer of cells and modules. REC Silicon and REC Wafer are the world's largest producers of solar grade silicon and wafers for solar applications. REC Solar produces solar cells and solar modules. Today the company has plants in USA (polysilicon), Glomfjord and Herøya (wafers), Narvik (solar cells) and Glava, Sweden (cells) with a total workforce of 1,100.
On 20 September 2006 the company announced the decision to invest NOK 700 million to expand the REC Solar plant in Narvik that produces solar cells. This will generate a need for about 175 new employees by 2nd quarter of 2008. A part of the cells will be sent to the Swedish plant that produces solar cell panels where NOK 100 million will be invested to double the production. Earlier this year REC decided to invest USD 600 million in its polysilicon plant in USA.
Eurofound (2006), REC, Business expansion in Norway, factsheet number 64609, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64609.