Solarworld to allegedly take over Bosch's solar plant - report
Nov 6, 2013 - German solar company Solarworld (ETR:SWV) is in advanced talks with industrial group Bosch for the acquisition of its solar module production plant in Arnstadt, Reuters said today, citing two people close to the deal.
Negotiations may result in a deal as early as this week, the sources told Reuters. The solar company refused to comment in front of Reuters and Bosch said that talks with potential investors are still ongoing.
Bosch announced its withdrawal from the solar business earlier this spring due to heavy losses coming from the fall in prices on the global solar market. The solar factory in Arnstadt, Thuringia employs around 1,800 people. Bosch has secured finances for the plant's operation by the end of the year.
Solarworld's CEO, Frank Asbeck, told German daily Handelsblatt in August, the company is interested in taking over Bosch's solar division but first needs to complete its restructuring. Solarworld's rescue plan was approved in August and is expected to be finalised by Ferbuary 2014.