Bids for SolarWorld Americas to come after tariff decision - report

Before making final bids for SolarWorld Americas Inc, companies interested in acquiring the solar manufacturer want to know what measures President Donald Trump would take to protect the US solar industry.

Bloomberg cited Thomas Schulz, spokesman for SolarWorld’s insolvency administrator Horst Piepenburg, as saying that suitors have requested that the deadline for final offers be extended until there are details on the measures to be taken, if any, against imports of photovoltaic (PV) products to the US.

In May 2017 SolarWorld joined Suniva Inc in a fight for global safeguard relief from imports of solar products to the US. That same month, German parent SolarWorld AG started insolvency proceedings. A deal for the German company’s assets was reached in August, with the buyer being a firm headed by founder Frank Asbeck.

As for SolarWorld’s US business, Schulz told Bloomberg that 15 investors have been invited to make non-binding offers for SolarWorld Americas.

US trade commissioners said in September that increased imports of crystalline silicon PV cells were hurting the domestic solar industry. After that International Trade Commission’s (ITC) ruling, SolarWorld Americas announced plans to start ramping up production and hiring employees.

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