Bosch considers three options for solar business - report
Nov 7, 2012 - German industrial group Robert Bosch is currently weighing three options for its solar business, but it is unlikely to completely sever its ties to the solar industry, Stuttgarter Zeitung reported on Tuesday.
A company spokesman said on Friday that a decision is expected by the end of the year.
Bosch is considering the option of finding a partner for the solar business in Asia, which could shoulder part of the costs. A second possible solution is for Bosch to reduce its activities by, for instance, giving up on in-house production. A third option would be to give the solar unit more time, the report said.
Bosch is struggling with dwindling demand for its solar products and introduced shorter hours at two German solar facilities at the beginning of October.
German engineering giant Siemens (ETR:SIE) announced last week it will exit the solar business, citing heavy price pressure as one of the factors that contributed to its decision.