Microsol will take Solon over


It appears that Microsol, under Indian management, and located in the UAE, will purchase large parts of the Berlin-based solar company. The Tagesspiegel reports that Microsol manager, Chakradhar Vummethala, came to Berlin in order to conduct negotiations with provisional liquidator, Rüdiger Wienberg.

It is believed that Microsol wants to take over most of Solon’s 400 employees. Up until now, just 21 layoffs have been announced, said the German newspaper. Seventeen administrative employees and four production workers reportedly received severance payment equal to half a month’s salary, multiplied by their years of service.

Following the announcement of Solon’s solvency, Microsol showed a strong interest in acquiring the company. This was backed up just a few weeks later, when on January 18, Microsol registered the takeover of Solon with Germany’s antitrust authorities.

Translated by Becky Stuart.

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