Würth Solar to quit PV18. March 2013 | Industry & Suppliers, Markets & Trends | By: Sandra Enkhardt
A significant part of the business is to be taken over by BayWa and a second investor. Between 50 and 230 jobs are at stake. The German Cartel Office still has to agree to the sale.
Würth Solar will, to a large extent, exit the PV business. The company will "hand over a significant part of its business to BayWa and an expected second partner," according to a press release.
The company decided to exit solar after a comprehensive internal evaluation process on future perspectives and after talks with potential investors. "We came to a conclusion that the significant framework conditions and requirements for success in the PV market do not apply as much to Würth Group as they do to companies that have defined renewable energy as their core business," said the CEO of Würth Solar Karl-Heinz Groß.
Around 50 employees from Würth Solar are expected to lose their jobs. The remaining 180 of the 230 employees could stay on in the company or transfer to the new employer.
What is concrete is that BayWa will take over the special distribution and mounting system businesses from Würth Solar and carry on managing them. Creotecc, another mounting system manufacturer, with operations in Germany and the U.S. is also expected to be taken over by BayWa.
The Cartel Office still has to approve these transactions. Würth Solar is also in the middle of "advanced concrete discussions" with yet another investor for the takeover of its solar power plant business. The investor remains unnamed. The customer service is expected to remain at Würth Solar and the company will carry on monitoring, repairing, and upgrading existing PV plants.
Translated by Shamsiah Ali-Oettinger.
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 5746 views
- 4941 views
- 3864 views
- 2246 views
- 1897 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!