SolarWorld closes in on deal for Bosch solar plant07. November 2013 | Global PV markets, Financial & Legal Affairs, Investor news, Markets & Trends | By: Ian Clover
The German solar giants have expressed an interest in acquiring Bosch's solar panel plant in Arnstadt, Germany. An official announcement is expected this week.
Amid reports that Bosch is seeking to relieve itself of its solar production facilities as the company begins the process of ending solar panel production early next year, Germany's SolarWorld has emerged as a potential buyer of Bosch's Arnstadt solar panel plant.
News agency Reuters has reported the story, claiming that SolarWorld refused to comment while Bosch will only state that it is in talks with potential investors. At the time of writing, pv magazine has been unable to elicit any official response from either company. However, an announcement is expected shortly, probably before the end of this week.
The Arnstadt plant employs approximately 1,800 staff, meaning if reports that SolarWorld is close to securing the plant are true, many of those employees could well be kept on under the new ownership.
In March, Bosch announced that it would begin phasing out its solar operations, having struggled to make a profitable impact in the market in light of tumbling equipment prices and a damaging case of oversupply throughout the industry. The company’s solar subsidiary has lost an estimated $3.23 billion since it was first set up in 2008.
SolarWorld has itself experienced financial difficulties in recent times, so an acquisition of this magnitude could be a positive signal of intent for the company, particularly in the German market.
Nancy shirley from avenel | http://french-door-refrigerator.net/
Thursday, 28.11.2013 06:46
Solar energy becoming one off the cheapest source of energy in near future. Its a good step from the Bosch. Its good to see that number of market leading Organizations working and investing their money for safe environment. Lg, Samsung , kitchen aid, and Ge appliances introducing Eco Friendly appliances for house.
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 4031 views
- 3117 views
- 3051 views
- 2471 views
- 2416 views
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!