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UPDATE - Court confirms ArcelorMittal's purchase of Exosun

Exosun's horizontal single-axis solar tracker. Source: exosun.net. All Rights Reserved.

January 5 (Renewables Now) - Luxembourg-based steel and mining giant ArcelorMittal (NYSE:MT) on Thursday officially announced that it will take over French solar tracking equipment maker Exosun SAS, currently in receivership.

The Commercial Court of Bordeaux has confirmed the pending transaction, ArcelorMittal said in a press statement, without providing financial details about the deal. The company’s bid for Exosun was reported by the Luxemburger Wort on Wednesday.

Martillac-based Exosun designs, develops and markets steel solar trackers for photovoltaic (PV) panels. With 10 years of experience and a headcount of 43, the company has so far delivered over 55 projects around the world with a combined capacity of about 700 MW.

ArcelorMittal is already engaged in the provision of solar tracking structures. The steelmaker is manufacturing solar frames at factories in Europe, China and Egypt. The planned integration of Exosun into the ArcelorMittal Projects division will enable the new entity to benefit from commercial, industrial and research and development (R&D) synergies, ArcelorMittal added.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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