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Mississippi could sue solar panel maker that owes $74.8M

4 years 11 months 3 days ago Saturday, October 21 2017 Oct 21, 2017 October 21, 2017 11:26 AM October 21, 2017 in News
Source: Associated Press
JACKSON, Miss. - Mississippi officials are considering whether to sue a solar panel maker that recently announced it will be closing its Hattiesburg plant.
Mississippi Development Authority spokeswoman Tammy Craft says the authority has referred the case to Attorney General Jim Hood for action, a step the agency has taken previously when talks between a company and the state break down.
Stion spokesman Frank Yang says the company owes Mississippi the entire $74.8 million it initially borrowed, although he says Stion has paid $11 million in interest.
The San Jose, California, company plans to close its plant Dec. 13, laying off 137 employees.
Yang says Stion is trying to sell the factory to a buyer who will run it. Sale proceeds would go to creditors, a possible alternative to bankruptcy.

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