From the end of August 2012, Germany's insolvent Sovello will stop all production on its photovoltaic (PV) product assembly lines until further notice.
The reason for the decision has been attributed to continued declining sales in recent weeks.
As such, the remaining 500 employees will be terminated; with the majority of the workforce will to be let go on 1st September 2012.
Despite the current difficult situation, the search for an investor is continuing and talks are being held.