Renewable Energy Corporation ASA (REC) intends to reduce production of wafers, cells and modules, from July 1, 2011, as a response to the current market conditions. REC will initiate a process with the trade unions, with the intention to halt production at the oldest wafer plants at Herøya, Norway, and at the solar cell plant in Narvik, Norway. Further, REC-branded modules will not be manufactured under contract by third parties in the third quarter. These measures are expected to reduce R...