During the corresponding time, Str Holdings, Inc. saw a revenue deteriorated by -51.51 % year on year, sequentially revenue fell by -27.4 %. While revenue at the Str Holdings, Inc.'s corporate clients
Str Holdings's Comment on Sales, Marketing and Customers
Our customers are solar module manufacturers located primarily in North America,
Europe and Asia. We typically sell our encapsulants on a purchase order basis
that specifies price and delivery parameters, but can be cancelled or postponed
prior to production. We also provide technical support and assist our customers
when they are qualifying solar modules that utilize our products, which can take
from two months to more than two years. Historically, our sales strategy has focused
on developing long-term relationships with solar module manufacturers and working
collaboratively during their product development efforts.
Over the past several years, many of our Western customers continued to lose market
share to lower-cost Chinese module manufacturers, with many being forced into
bankruptcy or exiting the solar business as module production migrated rapidly
to Asia, primarily China. We have been actively trying to enhance our presence
and improve our competitiveness in China, however, in light of the obstacles detailed
herein relating to the Chinese market, we have decided to conduct an orderly wind
down of our China-based manufacturing operations. Given that our China factory
has been manufacturing encapsulants for sale outside of China, we are currently
working to accommodate production in the primary export market, namely India.
Global Wedge, Inc. and Heckert Solar, each accounted for at least 10% of our net
sales.
