BP (BP) announces plans to shut its solar power unit and quit the business entirely after 40...

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP) announces plans to shut its solar power unit and quit the business entirely after 40 years because it's become unprofitable. The closure makes BP Solar the latest victim in a market that is facing heavy oversupply and price pressures since Asian manufacturers started ramping up. The company plans to wind the unit over then next several months, with around 100 employees affected.