Seagate Bids $90 Million For Solyndra Building

Solyndra filed for shut down and filed for bankruptcy in August 2011.

News broke yesterday that popular tech company . But just how much is the bankrupt solar plant going for?

According to the San Jose Mercury News, Seagate, a company that manufactures hard drives, offered $90.3 million for the massive facility. The price is a steal compared to the $300 million spent to build the plant.

Seagate’s offer was revealed in new U.S. Bankruptcy Court documents, the newspaper reports. Solyndra’s development was backed by a $535 million federal loan guarantee by the Obama Administration’s Energy Department.

The 412,000-squre-foot facility last year.

Seagate, which has facilities in Cupertino, searched for expansion opportunities before settling on the Fremont location. The company could complete the purchase of the plant by early next year, according to court documents.

The company has yet to announce just what it plans to do with the new facility or if it will shut down its other operations.

Read the full San Jose Mercury News report here.


Like Fremont Patch  | Follow Fremont Patch | Like Newark Patch  | Follow Newark Patch  | Like Union City Patch  | Follow Union City Patch 


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »