Bosch completes sale to SolarWorld
The deal under which the production of crystalline photovoltaic cells and modules in Arnstadt will be sold by Bosch to SolarWorld has been closed. All the conditions for consummating the purchasing agreement signed in November 2013 have been fulfilled, including the approval of the antitrust authorities and the conclusion of a reconciliation of interests for the Bosch Solar Energy associates transferring to SolarWorld Industries-Thueringen GmbH. The parties have agreed not to disclose any details of contractual conditions.
In total, 1,000 of the currently 1,400 jobs at the Arnstadt location have been preserved. "We have achieved our goal of selling parts of the operation and relocating an alternative Bosch business, and in this way of offering jobs to as many associates as possible," said Dr. Volkmar Denner, Chairman of the Board of Management of Robert Bosch GmbH. "In this way, we can offer a perspective for the large majority of associates instead of closing the site. We have invested a lot of time and considerable sums of money in making this possible."
In addition to the roughly 800 associates who are transferring to SolarWorld, Bosch will employ a total of roughly 250 associates at the Arnstadt location. The Bosch service organization and trading company have already commenced operations. From the autumn of 2014, Bosch will also be manufacturing an automotive electronic product in Arnstadt. The preliminary preparations are currently underway.
In addition, negotiations are being held with the employee representatives to discuss the reconciliation of interests and social compensation plan for those associates not transferring to SolarWorld Industries-Thueringen GmbH.
Despite increased efforts by Bosch, together with the Thuringian government and state development corporation, the potential investor from the pharmaceuticals industry has abandoned its original plans to manufacture in Arnstadt, citing business reasons.
For the module plant in Vénissieux, France, it is planned to offer a comparable solution to the one for Arnstadt. Talks with a potential investor have now reached an advanced stage.
On February 5, 2014, aleo solar AG, based in Oldenburg and Prenzlau, Germany, signed an agreement to sell its module production in Prenzlau to SCP Solar GmbH. SCP Solar GmbH is a joint venture of the Taiwanese company Sunrise Global Solar Energy Co., Ltd., the Japanese company CHOSHU Industry Co., Ltd., and the U.K.-based Pan Asia Solar, Ltd. The buyer will also take over the "aleo" brand, and intends to create jobs for roughly 200 associates. As the main shareholder (90.7 percent stake), Bosch is providing finance to help aleo put this deal into practice. The aleo board of management has examined several options, including completely winding up the business operations. To give roughly 200 associates the chance of finding employment with the acquiring company, Bosch is accepting additional costs for this transaction running into seven figures. Financially, a complete winding up would have been the far more favorable option. Bosch is providing aleo with financial support for the transaction and for dissolving the residual business not included in the transation. This means that the bankruptcy of aleo can be avoided. The transaction is subject to approval by general shareholders meeting and the antitrust authorities, among other things.
