Business & Tech
Judge Approves Sale of Solyndra Plant to Seagate
The hard drive manufacturer will purchase the 412,000-square-foot factory for $90.2 million, according to media reports.
A U.S. Bankruptcy Court judge Thursday approved the $90.2 million sale of the former Solyndra plant to hard drive manufacturer Seagate, according to media reports.
The purchase price is significantly less than the $300 million the failed solar-panel maker paid to construct the 412,000-square-foot factory, the Oakland Tribune reports.
Seagate began talks in August about purchasing the space from Solyndra,, which last year.
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Seagate will use the building to replace its current research and development facility, according to the Tribune report.
Details about the company’s expansion and hiring were not yet revealed.
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Seagate plans to close the sale over the next month, a spokesman told the Tribune.
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