SMA Solar Technology AG (SMTGF.PK), a German solar energy equipment supplier, said that it has decided to initiate a company-wide restructuring and transformation program aimed at increasing efficiency and strategic focusing. The company aims to realise cost savings of an estimated 150 million euros to 200 million euros.
The restructuring and transformation program will develop measures focused on three key areas: optimizing the company's cost structure, adjusting the organizational and operational framework, and strategically repositioning the company in the market, the company said.
SMA noted that the program will enable the company to achieve profitable growth, even in a persistently volatile market environment.
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