SolarWorld plans to takeover Bosch solar plants in Europe

SolarWorld plans to takeover Bosch solar plants in Europe

Business news |
By eeNews Europe

The acquisition, which is expected to be completed by late February 2013, will lift the company’s world capacity into the world’s top 10 and bolster its status as the largest crystalline-silicon solar producer outside of the People’s Republic of China.

The acquisition of Bosch’s cell and manufacturing in Arnstadt, Germany, will heighten the company’s scale efficiencies, diversify its product offerings and usher in opportunities for inter-site research and development, according to SolarWorld. The company will operate major sites concentrating on three product categories: poly-crystalline cells and modules in Freiberg, Germany, mono-crystalline cells and modules in Arnstadt and advanced-technology, high-wattage cells and modules in Hillsboro, the company’s hub for the Americas. Combined, the sites will possess capacities exceeding 1 GW each for wafers, cells and modules.

The company will acquire Bosch’s solar assets, including about 800 employees, without diminishing its financial resources. The announcement comes as SolarWorld prepares to finalize a debt- and organization-restructuring process that has spanned 2013. The newly formed SolarWorld Industries-Thuringen GmbGH will operate the Arnstadt facilities.

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