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SolarWorld looks to buy Bosch's solar plant

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November 6
8:52 PM 2013

German company SolarWorld may purchase car parts supplier Bosch's solar cell factory in Arnstadt, Germany. The two companies are currently in talks about the solar plant, according to a report published by The Oregonian on its website.

Hillsboro-based SolarWorld has taken a hit from the declining prices in the solar industry and competition from China. As other similar companies have already filed for insolvency, the solar company of 600 employees would try to save its finances through this planned acquisition, said the report.

Last month, SolarWorld confirmed that it will be replacing its top executives in the U.S. As of now, it has not yet given a comment regarding the potential acquisition of the German factory with 1,800 employees, the report stated.

Meanwhile, Bosch said in March that it would halt its solar panel production early next year and look for potential buyers of its business parts, The Oregonian report said.

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