UPDATED: Negotiations over solar company operation now on hold

Posted at: 12/26/2012 9:37 PM
Updated at: 12/27/2012 2:38 PM
By: Joe Vigil, KOB Eyewitness News 4

Many thought McCune Solar Works would be the savior of Schott Solar at Mesa del Sol in Albuquerque. Not so.

On Wednesday, Schott officials confirmed to KOB Eyewitness News 4 that discussions regarding the lease of the Schott Solar facility were abandoned.

"After several months of negotiations, both parties regretfully failed to come to final terms," read a statement from Shott to KOB.

Back in the fall, McCune Solar Works said it would pick up operations at Schott Solar and employ 130 people with average wages of $50,000. About 200 people lost their jobs at Schott.

The new company had plans to rehire many Schott employees. Schott Solar said it will continue looking for a new tenant of the Mesa Del Sol facility.

UPDATE: Chuck McCune, with McCune Solar Works, tells KOB that financing didn't "break down."

He says negotiations didn't work out with Schott.

He says McCune Solar Works, and the company's investors, are looking at several other locations in New Mexico to operate.