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Germany: Bosch divests burden of solar panel manufacturing

By  |  November 26, 2013

Car parts manufacturer Bosch has inked a deal to sell its solar energy operations to SolarWorld, a move likely to come as a relief to Bosch after losing billions to the failed business.

SolarWorld, once Germany’s top solar power company, will acquire cell and module production from Bosch Solar Energy, reports say. The deal will push SolarWorld up to the largest solar producer in the world outside of China, according to the company.

Bosch first announced last March that is plans to end its solar production operations by early 2014; since its establishment of Solar Energy in 2008, the company has reportedly lost $3.23 billion.

Full Content: Reuters

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