Re: report

Restructuring

We have undertaken a series of restructuring initiatives as further described in Note 4. “Restructuring,” to our consolidated financial

statements included in this Annual Report on Form 10-K. In December 2011, February 2012 and April 2012, respectively, we announced

restructuring initiatives intended to (i) align the organization with our Long Term Strategic Plan, including expected sustainable market

opportunities, (ii) accelerate operating cost reductions and improve overall operating efficiency, and (iii) better align production capacity and

geographic location of such capacity with expected geographic market requirements and demand.

Such restructuring initiatives resulted in charges to restructuring expense of $469.1 million in 2012 and $60.4 million in 2011. The most

significant actions taken as part of these restructuring activities were the decisions to close our manufacturing operations in Frankfurt (Oder),

Germany at the end of 2012 due to the lack of policy support for utility-scale solar projects in Europe and to not proceed with our 4-line

manufacturing plant in Vietnam or a 2-line manufacturing plant in France, based upon expected future market demand and our focus on

providing utility-scale PV generation solutions primarily to sustainable geographic markets.

The annual cost savings expected from these restructuring initiatives in 2013 and beyond are expected to be between $70 million and $120

million , reducing both cost of sales and selling, general and administrative expenses in approximately equal amounts. The amount of cost

savings realized will in part be impacted by the actual capacity utilization in a given year. These cost savings may be offset by increases in

operating expenses primarily related to establishing a localized business presence in target markets pursuant to our Long Term Strategic Plan.

Még mindig nem értem, miért került ez fél milliárd (??) dolcsiba 2012-ben????? Azt sem értem, ez miért olyan nagy üzlet, ha a pénzt csak kb. 5 év alatt hozza egyáltalán vissza