A major buyer of Applied Materials (Nasdaq: AMAT) solar production equipment has cut an order by more than 85% to $250 million, according to a Reuters report.
Applied Materials announced in March 2008 a $1.9 billion order for SunFab thin film solar production equipment. The buyer was never officially named, though one analyst to Reuters it was Best Solar based in China.
Applied Materials, which posted its first loss since 2003, is planning to cut $400 million in costs.
Read the full Reuters report at the link below.
