FRANKFURT -- German photovoltaic firm SolarWorld said Tuesday it has signed an agreement to buy parts of Robert Bosch GmbH's solar energy business in Germany.
Under the terms of the deal, SolarWorld will take over cell production capacity of 700 megawatt as well as module production capacity of 200 megawatt from Bosch Solar Energy in Arnstadt in eastern Germany.
Financial details were not disclosed.
Bosch, a maker of electronic car parts, announced in March that it is pulling the plug on its solar panel manufacturing business because overcapacity in the industry has caused prices to nosedive.
Copyright Agence France-Presse, 2002-2025. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.
