Soitec calls off sale of solar business to ConcenSolar
Aug 5, 2015 19:01 CEST
August 5 – French silicon-on-insulator wafers maker Soitec (EPA:SOI) announced today it would not close the previously announced sale of solar system business to privately-held firm ConcenSolar.
In May this year the French company said it signed an agreement to sell a portion of its solar business, including technology assets and manufacturing operations in Germany and in the USA to ConcenSolar, a business partner of concentrator photovoltaic (CPV) expert Suncore Photovoltaic Technology Co Ltd. (http://renewables.seenews.com/news/frances-soitec-to-sell-solar-activities-to-concensolar-477548)
Soitec gave no details of why the deal fell through only saying it is disappointed for the loss of this opportunity with the corresponding anticipated capital gains.
The French company will continue its plan to focus on its core electronics business and to transition away from its solar business activities. “Maximizing opportunities to realize value from its solar assets remains a priority for Soitec”, the company said in a press release.
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