H
H. E. Taylor
2006/02/03: PlanetArk: Solarworld Buys Shell's Solar Business; Shares Soar
FRANKFURT- Germany's SolarWorld has bought Shell
Group's loss-making silicon solar operations for an
undisclosed sum, making it the biggest player in the US solar
energy market, it said on Thursday.
Shares of SolarWorld, which have risen about 430 percent over
the past 12 months, rose to an all-time high of 230.90 euros,
before closing up 17.4 percent at 218.85 euros.
Frank Asbeck, chief executive of solar energy company
SolarWorld, told Reuters it expects 2006 revenues to rise by
about 40 percent after it buys Shell's silicon-based solar
operations, more than doubling its production capacities to 140
megawatts from 80.
Asbeck said the company had reached its 2005 sales and
earnings targets. It has forecast 2005 sales to rise by more than
50 percent to "well over" 300 million euros ($362 million) and net
profit to come in at more than 40 million euros.
SolarWorld said it would take over US Shell locations in
Vancouver, Washington and Camarillo, California that
manufacture solar silicon crystals, wafers, cells and modules.
Others locations being taken over include solar cells operation in
Gelsenkirchen, Germany, sales companies in Munich, Germany,
Singapore and South Africa and the research and development
team focusing on silicon technology based in Munich.
The deal excludes Shell's Solar Rural business.
[...]
<http://www.planetark.com/dailynewsstory.cfm/newsid/34859/story.htm>
See also:
2006/02/02: SeattlePI: Solarworld buys solar power unit from Shell
<http://seattlepi.nwsource.com/business/1310AP_Germany_Solarworld_Shell.html>
SolarWorld
<http://www.solarworld.de/>
<regards>
-het
--
"The major advances in civilization are processes that all but wreck
the societies in which they occur." - Alfred North Whitehead
PV FAQ: http://www.autobahn.mb.ca/~het/energy/pv_faq.html
H.E. Taylor http://www.autobahn.mb.ca/~het/
FRANKFURT- Germany's SolarWorld has bought Shell
Group's loss-making silicon solar operations for an
undisclosed sum, making it the biggest player in the US solar
energy market, it said on Thursday.
Shares of SolarWorld, which have risen about 430 percent over
the past 12 months, rose to an all-time high of 230.90 euros,
before closing up 17.4 percent at 218.85 euros.
Frank Asbeck, chief executive of solar energy company
SolarWorld, told Reuters it expects 2006 revenues to rise by
about 40 percent after it buys Shell's silicon-based solar
operations, more than doubling its production capacities to 140
megawatts from 80.
Asbeck said the company had reached its 2005 sales and
earnings targets. It has forecast 2005 sales to rise by more than
50 percent to "well over" 300 million euros ($362 million) and net
profit to come in at more than 40 million euros.
SolarWorld said it would take over US Shell locations in
Vancouver, Washington and Camarillo, California that
manufacture solar silicon crystals, wafers, cells and modules.
Others locations being taken over include solar cells operation in
Gelsenkirchen, Germany, sales companies in Munich, Germany,
Singapore and South Africa and the research and development
team focusing on silicon technology based in Munich.
The deal excludes Shell's Solar Rural business.
[...]
<http://www.planetark.com/dailynewsstory.cfm/newsid/34859/story.htm>
See also:
2006/02/02: SeattlePI: Solarworld buys solar power unit from Shell
<http://seattlepi.nwsource.com/business/1310AP_Germany_Solarworld_Shell.html>
SolarWorld
<http://www.solarworld.de/>
<regards>
-het
--
"The major advances in civilization are processes that all but wreck
the societies in which they occur." - Alfred North Whitehead
PV FAQ: http://www.autobahn.mb.ca/~het/energy/pv_faq.html
H.E. Taylor http://www.autobahn.mb.ca/~het/
