Deals 'imminent' for Conergy units


Mystery surrounds the identity of the company that is set to acquire the Mounting Systems subsidiary of insolvent German solar manufacturer Conergy as the parent company announced a deal is ‘imminent.’

In a press release yesterday, Conergy announced negotiations to sell its manufacturing subsidiaries Conergy SolarModule and Mounting Systems were at an advanced stage.

The German parent company announced Chinese module maker Astroenergy, part of the Chinese Chint group, is on the verge of acquiring its Frankfurt-based module manufacturing bsuiness – without announcing details of any purchase price, if any.

Conergy stated a deal for that business, and for an unnamed company to acquire the Rangsdorf-based Mounting Systems racking manufacture subsidiary, were ‘imminent.’

The Conergy release said the company expects contracts on both deals to be signed by Christmas at the latest.

The Astroenergy deal will see 80 of the 280 jobs based in Frankfurt shed and Conergy announced negotiations with the workers’ councils over the cuts started yesterday and it expects them to be complete within the ‘coming weeks.’

Conergy revealed the unnamed buyer of the Mounting Systems business was involved in the decision to release 52 of the roughly 200-strong workforce by October 1, helping to finance the transition of ‘a majority’ of those affected into a six-month ‘interim employment society’ where they will receive 80% of their net pay and get education and training.

In return for the job losses, the acquirer, according to Conergy, has agreed to complete the acquisition and to safeguard the jobs of the remaining 150 employees at Rangsdorf as well as 30 more positions in Sacramento, California.

No further details of the Mounting Systems deal were announced.