SolarWorld AG announces acquisition of the German solar cell and module production of Bosch Solar Energy

Contract signed - European gigawatt group arises

The European solar technology manufacturer SolarWorld AG announces the acquisition of the cell and module production of Bosch Solar Energy in Arnstadt in the German federal state of Thuringia. This means that around 800 jobs will be preserved and secured in the wholly-owned SolarWorld subsidiary SolarWorld Industries-Thüringen GmbH. The purchase agreement has been signed today. With this purchase, SolarWorld takes over a cell production plant with a nominal year-end capacity of 700 MW and a module production plant with a nominal year-end capacity of 200 MW from Bosch Solar Energy AG.

With the acquisition, the first European solar energy group with a production capacity of over one gigawatt arises. SolarWorld produces solar wafers, solar cells and solar modules in Germany and the United States. Together with the newly acquired production facilities, SolarWorld will be the largest solar technology manufacturer in the Western world.

Dr.-Ing. E. h. Frank Asbeck, CEO of SolarWorld AG: “We believe in Made in Germany and Made in the United States. Only with the highest quality standards can we meet the demands of our customers and offer guarantees of 25 or even 30 years. The acquisition of the production facilities of Bosch Solar Energy strengthens SolarWorld. We are reinforcing Germany’s leadership in photovoltaics.”

Bosch and SolarWorld use cell technologies with high degrees of efficiency. Both are leaders in the technological development and industrial application of high-efficiency PERC technology. With the consolidation of research activities and with their combined production experience, SolarWorld expects further efficiency gains and cost reductions. The implementation of the acquisition as well as the successful completion of the SolarWorld’s restructuring process is to take place at the end of February 2014. The transaction is subject to a pending antitrust approval and other closing conditions.

At a staff meeting of Bosch Solar Energy on Tuesday morning, Dr. Frank Asbeck and Bosch’s CEO Dr. Volkmar Denner jointly announced the takeover decision to employees in Arnstadt. Asbeck: “With the locations of Arnstadt/Thuringia, Freiberg/Saxony and Hillsboro/United States, the gigawatt manufacturer arises that was long called for in the solar industry by European politics. With the best technology and the best quality, we will assume a leadership role in the solar industry. We are going to implement the energy transition in practice.”

Source: SolarWorld AG/