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BP Solar Scraps Maryland Factory Expansion

Stock quotes in this article: BP , STP  

Written by Ucilia Wang

BP Solar [a subsidiary of BP (BP Quote)] has canceled a $97 million plan to expand manufacturing in Maryland, citing increasingly intense competition in the global market.

The solar company, which makes, installs and operates solar-power systems for homes and businesses, told Frederick County officials [last week] that it still plans to complete the building that was meant to house a new silicon ingot factory. But BP Solar will use the building as office space and a warehouse instead, said Tom Mueller, a spokesman for BP Solar.

The solar company won't be spending the $67 million it had set aside for buying equipment and outfitting the interior of the factory, Mueller said, adding that the competition among solar-panel makers is getting too intense. ...

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