Struggling SolarWorld eyes Bosch
Despite its huge financial woes, German PV equipment maker SolarWorld is interested in some of the solar operations being sold off by engineering giant Bosch, the company confirmed.
“We are interested in parts of the Bosch production [operation], in particular its solar cell manufacturing,” SolarWorld CEO Frank Asbeck was quoted as saying by German newspaper Handelsblatt.
The press official confirmed the accuracy of those statements.
Asbeck did not clarify how his embattled company would pay for any parts of the Bosch Solar businesses. After losing €2.4bn ($3.08bn), Bosch recently said it plans to exit the PV business, threatening some 3,000 jobs.
SolarWorld AG on Thursday had acknowledged it expects to record a loss after tax of between €520m and €550m ($679m-$717m) for 2012.
SolarWorld still has not published full financial figures for 2012, after it postponed their release amid negotiations with creditors about a restructuring of its debt.
The release of the company’s annual report was scheduled for March 21, but it says it plans to release full-year figures later this month.
Negotiations on restructuring are “constructive” Asbeck told the newspaper, adding that it takes time to reach a result that’s good for all parties.
Like many Western PV manufacturers, SolarWorld’s business has been decimated over the past few years by the flood of ever-cheaper modules from Asia, many of which it believes have been dumped at below-market prices by companies unfairly propped up by the Chinese government.