Maxeon moves forward, but DRAMATICALLY scales back Albuquerque plans

As the Albuquerque Journal reports MLG’s favorite solar panel manufacturing company Maxeon has finally announced their plans for a manufacturing facility in Albuquerque. But, they’re NOT breaking ground at a new facility at Mesa del Sol. Instead, they are moving into the former Honeywell facility.

Whether the move is a win for MLG or New Mexico is an open question, but the move takes Maxeon from a proposed a brand new 1.9 million-square-foot facility down to just a 110,000 square foot facility. That’s a shrinking of their New Mexico footprint by nearly 95% (a number which approaches the steep decline in the company’s stock price). Will the generosity of New Mexico’s massive taxpayer subsidies shrink with their shrinking footprint?

Despite the recent election of President Trump Maxeon’s stock price has rebounded slightly in recent weeks which is likely related to the company’s dramatic changes in management and focus.