Business & Tech
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.
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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.
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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.
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