Despite seeing sales and orders surge in 2010 as expansionary fever gripped the global PV industry, Roth & Rau swallowed an operating loss of €25.9m ($35.7,m) on a handful of sour deals where it had intended to build turnkey cell factories for customers.

The loss compares to an operating profit of €16.1m last year, and includes a €12.1m hit attributable to the likelihood of insolvency at SpectraWatt, a spinoff chipmaker Intel.

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