| Bosch acquires 68.70-percent majority shareholding in aleo solar AG |
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03/11/2009 15:42 (18 Day 01:06 minutes ago) | |||||
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The FINANCIAL -- The Bosch Group has acquired the majority shareholding in the module manufacturer aleo solar AG. Including additional acquisitions and tendered stock, Bosch has now secured 68.70 percent of aleo stock.
“We are looking forward to further developing our photovoltaics business together with aleo,” said Dr. Siegfried Dais, deputy chairman of the Bosch board of management with responsibility for the Solar Energy division. In addition, Bosch is acquiring a more than 60 percent interest in Johanna Solar Technology GmbH, based in Brandenburg an der Havel, Germany, in which aleo holds a roughly 17 percent stake. The antitrust authorities have already granted the necessary approval.
“With aleo solar and Johanna Solar, we are strengthening our photovoltaics business by completing our value added chain and opening up new distribution channels,” said Holger von Hebel, president of the Bosch Solar Energy division. With its new associates and experienced teams, Bosch would be able to further expand its position in the promising market for renewable energies, he said.
aleo solar is an established brand name in the solar module market. It manufactures these modules on the basis of in-sourced mono- and polycrystalline solar cells. The modules are sold via an extensive distribution network and installers to end-users in Germany and other important European markets. In 2008, the company generated sales of roughly 360 million euros, and employed some 800 associates. Its manufacturing facilities are located in Prenzlau, Germany, and near Barcelona, Spain.
Johanna started developing solar modules based on thin-film CIGS cells in 2006, going into production at the end of 2008. These thin-film modules are marketed by aleo. Johanna employs some 125 associates.
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