Arab Today, arab today bosch pulls plug on photovoltaics business
Last Updated : GMT 12:33:12
Arab Today, arab today
Arab Today, arab today

Bosch pulls plug on photovoltaics business

Arab Today, arab today

Arab Today, arab today Bosch pulls plug on photovoltaics business

Frankfurt - AFP

German car parts supplier Bosch said Friday that it plans to discontinue its solar panel manufacturing business because overcapacity in the industry has caused prices to nosedive. \"Bosch is to discontinue its activities in crystalline photovoltaics,\" the company announced in a statement. \"Bosch\'s manufacture of ingots, wafers, cells, and modules will be ceased at beginning of 2014,\" the statement said. As far as possible, individual units would be sold quickly and all development and marketing activities were likewise to be ended. \"The module plant in Venissieux, France, is to be sold. Plans to construct a manufacturing facility in Malaysia will be ended,\" it said. Furthemore, Bosch would seek a buyer for its Aleo Solar unit. Bosch employs around 200 people in Venissieux and 850 at Aleo Solar. \"Over the past years, Bosch Solar Energy has tried unsuccessfully to achieve a competitive position. Due to global overcapacity, which has since become huge, nearly the entire industry is sustaining heavy losses,\" the group noted. \"Despite extensive measures to reduce manufacturing cost over the past year, we were unable to offset the drop in prices, which was as much as 40 percent,\" said Bosch board member and supervisory board head of Bosch Solar Energy, Stefan Hartung. In January, Bosch said the losses of the Solar Energy division amounted to some one billion euros ($1.3 billion) last year. Bosch insisted that it had examined all possible options before reaching this decision, including cost-cutting potential, strategic alignment and talks with potential partners. \"However, none of these possibilities resulted in a solution for the Solar Energy division that would be economically viable over the long term. We deeply regret this,\" said Bosch chief executive Volkmar Denner. Board member Hartung added: \"We know full well that associates face a difficult time. Together with the employee representatives, we will search for solutions that are as acceptable as possible.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bosch pulls plug on photovoltaics business Arab Today, arab today bosch pulls plug on photovoltaics business

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bosch pulls plug on photovoltaics business Arab Today, arab today bosch pulls plug on photovoltaics business

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday