The contract to divest the solar segment of Oerlikon was signed in March this year. "The closing of this transaction marks another important step in the optimization of our business portfolio. TEL, as a strategic buyer and leading supplier of semiconductor production equipment, is well suited to utilize the advantages of the thin film silicon solar technology in a sustainable and successful manner," added Dr. Michael Buscher, CEO of the Oerlikon Group.
President and CEO of TEL Hiroshi Takenaka believes that there is opportunity for further growth in demand for thin-film silicon PV modules, especially for large-scale power generation. the combination of Oerlikon’s thin film technology and TEL’s semiconductor expertise, Takenaka states that the company will be able to develop more competitive devices. "This acquisition is an undertaking intended to establish the photovoltaic panel (PV) production equipment business as a new core business that will support TELs growth strategy," he adds.
Challenging market conditions and the lack of consumer investment were the reasons cited behind the decision made back in March.