HANWHA SOLUTIONS CORPORATION 009830

The announcement comes months after the company said some of its shipments of solar cells had been detained at U.S. ports under a 2021 law banning imports from China's Xinjiang ⁠region due to concerns ‌about forced labor. Qcells has committed to investing $2.5 billion to build a complete U.S. solar ‍panel supply chain to compete with China.

A South Korean solar company says it will temporarily reduce pay and working hours for about 1,000 of its 3,000 employees in Georgia because U.S. customs officials have been detaining imported components needed to make solar panels. Qcells, a unit of South Korea's Hanwha Solutions, said Friday that it will also lay off 300 workers from staffing agencies at its plants in Dalton and Cartersville, both northwest of Atlanta. The company says U.S. Customs and Border Protection has been detaining imported components at ports on suspicion that they contain materials that may have been made with for

Despite a rise in consolidated sales, Hanwha Solutions Corp faces profitability challenges and increased liabilities, with strategic plans to address market pressures.