Solar Millennium’s Flagsol stake sold to Ferrostaal
09. July 2012 | Industry & Suppliers, Markets & Trends | By: Becky BeetzSolar Millennium AG’s insolvency administrator has sold the company’s 74.9 percent stake in Flagsol GmbH to Ferrostaal GmbH.
Flagsol was a joint venture between Solar Millennium and Ferrostaal. Following the transaction, Ferrostaal now has complete control of Flagsol, which focuses on engineering and plant construction in the solar thermal sector, and its 80 staff. The financial details were not disclosed.
In a statement released, it was said that Ferrostaal should keep the company headquarters in Cologne, Germany. "I’m extremely pleased about the fact that all jobs were saved and that we managed at the same time to generate significant proceeds for Solar Millennium AG’s creditors," stated Volker Böhm, Solar Millennium insolvency administrator.
To leave a comment you must first sign in or register your details
No comments have been submitted yet. Why not login or register and be the first?
Subscribe today!
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
Most read
Spain: Renewable energy premium payments rise by 19% in 2012
1630 viewsGerman industrial associations against AD duties on Chinese PV imports
1578 viewsSolarWorld to hold extraordinary shareholders' meeting
1284 viewsLos Angeles unveils 350 MW solar program
1264 viewsJapan to offer loans for rooftop PV generation
1244 views
Opinion & analysis
Why do so many believe MENA is the next big solar market?, asks Yassir Gamil, managing director of Solarpraxis' new MENA office
Press releases
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!