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Mar 7th, 2012
 
Microsol acquires key assets of SOLON and forms SOLON energy GmbH
 
Microsol, an United Arab Emirates (UAE) based cell manufacturer, has acquired essential components of SOLON’s insolvent companies together with two foreign subsidiaries.
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  • Strategic acquisition of SOLON (DE) by Microsol (UAE)
  • Maintenance of majority of jobs at three SOLON locations
  • Joint international growth planned with a focus on India, Middle East and the United States

With the recently established SOLON Energy GmbH, as the core of the new group, an integrated solar-system provider has been set up that has a strong presence in the leading and emerging photovoltaic markets. About 600 jobs worldwide have been transferred from the insolvent SOLON SE (including subsidiaries) to the new SOLON Energy GmbH and the other affiliates. The main sites in Berlin-Adlershof (Germany), Tucson (USA) and Carmignano di Brenta (Italy) will be maintained. The purchase price was not disclosed by the contract partners; an approval by Italian authorities is still pending.

Microsol cost effectively produces high-efficiency solar cells with around 325 employees in Fujairah (UAE). The company has good prospects for further growth in its core markets of the Arab and Asian countries, with special emphasis on India. The acquisition of SOLON allows the extension of the range of specialized product innovations and access to the European and North American markets. In addition, SOLON’s strengths in the power plant business, in research and development and marketing and distribution are being regarded as particularly valuable by Microsol. Solar power systems will continue to be produced in Germany and production facilities will come on line at Microsol’s home base in Fujairah in the course of this year.

India will be a key growth market for the new SOLON group.

 

 
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