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Posted Thu Aug 18 2011: from
Reuters:
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Solar company Evergreen files for bankruptcy http://apocadocs.com/s.pl?1313627080
U.S. solar company Evergreen Solar Inc filed for bankruptcy on Monday, its once cutting-edge technology falling victim to competition from cheaper Chinese rivals and solar subsidy cuts in Europe.
The Chapter 11 filing by a company once seen at the forefront of U.S. renewable energy technology came after a two-year struggle to stave off competition from Asia. The increasingly crowded market forced Evergreen to close its much-touted but short-lived Massachusetts factory and relocate manufacturing to China, and resulted in the virtual disappearance of its once-lofty stock market value.
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