Aleo sells Bosch Solar CIS Tech stake11. December 2012 | Industry & Suppliers, Markets & Trends | By: Sandra Enkhardt/Becky Beetz
Aleo Solar has sold its equity stake in Bosch Solar CIS Tech GmbH to Robert Bosch GmbH. The purchase price was not disclosed.
Originally, Bosch Solar CIS Tech operated under the name Johanna Solar Technology GmbH. However, in November 2009, the Bosch Group became involved in both aleo solar and Johanna Solar.
At that time, Bosch acquired an around 60% stake of Johanna Solar and, with part of it, founded Bosch Solar CIS Tech GmbH. Also at that time, aleo held a 17% stake in Bosch Solar CIS Tech and Bosch owned a nearly 70% stake in aleo, which increased gradually.
Bosch Solar CIS Tech GmbH currently produces thin film photovoltaic modules in Germany’s Brandenburg an der Havel, near Berlin.
Around a month ago, Bosch waived aleo’s repayment of a €25 million loan, in order to help ease the photovoltaic manufacturer’s financial situation. Shortly afterwards, aleo announced a sharp decline in revenues and an EBIT loss of €51.5 million in the first nine months of 2012.
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