Centrosolar sells glass unit
German PV group Centrosolar has sold its solar glass division to Belgian glass maker Ducatt, prompting its shares to jump 19.6% to €0.293 by late afternoon trading in Frankfurt.
Centrosolar said it sold the glass unit for a symbolic price plus a share in future profits. The transaction has reduced Centrosolar’s debt by about €14m ($18.3m).
The company said the sale is part of its strategy to focus on its key business of rooftop PV installations.
Centrosolar in February unveiled a restructuring programme that already had foreseen the discontinuation of its glass operations, which contributed 17% of its €227m revenues last year.