German Conergy seeks Asian partner - report

Dec 23, 2011 - German solar technology producer Conergy AG (ETR:CGY) is currently seeking a cooperation partner in Asia, daily Handelsblatt reported on Thursday.

According to the report, the German company is interested in entering into a partnership with companies such as Chinese solar products maker Trina Solar Ltd (NYSE:TSL) or Yingli Green Energy Holding Co Ltd (NYSE:YGE), which may acquire a shareholding in Conergy.

Conergy's management board member Alexander Gorski confirmed that the company is currently in talks on the matter, Handelsblatt said.

The German solar technology producer announced two days ago that it had decided to sell its inverter subsidiary Voltwerk Electronics GmbH to Bosch.

As a company active in the solar industry Conergy has been facing difficulties resulting from the unfavourable market conditions and the low prices. However, according to Gorski, the company will return to operating profitability in 2012.

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