Solon Energy will form the core of Microsols new group, which comprises "essential components" of Solons main business, along with its Italian and U.S. subsidiaries. In a statement released, it explained, "With the recently established Solon Energy GmbH an integrated solar-system provider has been set up that has a strong presence in the leading and emerging photovoltaic markets." Around 600 jobs worldwide have been transferred from Solon SE and its subsidiaries, to Solon Energy and the other affiliates.
As has already been announced, the sites in Berlin-Adlershof, Germany, and Tucson, the U.S. will be maintained. The site in Carmignano di Brenta (Italy) will also be kept. However, an approval by Italian authorities is still pending. Microsol added that solar power systems will continue to be produced in Germany, and that new production facilities will also be established at its Fujairah base this year. No further details have been released though.
Microsol manufactures solar cells in Fujairah, the UAE and employs approximately 325 people. Its key markets are said to encompass the Arab and Asian countries and, in particular, India. "Because of the favorable political and economic circumstances, there is great potential for the power plant businesses. Microsols market access and the module and power plant expertise of Solon provide us with excellent prospects in India," explained Turlapati, chairman of Microsol.
The company believes that its acquisition of Solon will allow it to extend its product range and gain deeper access to both the European and North American markets. "In addition, Solons strengths in the power plant business, in research and development and marketing and distribution are being regarded as particularly valuable by Microsol," it said.
Microsols takeover is said to have been well received by Solons workforce. "We are pleased with the preservation of many jobs," commented Sabine Lutze, chairman of the works council, who added, "We have gained the impression that working with Microsol as a partner makes us look forward with optimism again."