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08
March
2012

Strategic acquisition of Solon by Microsol

Microsol, an United Arab Emirates (UAE) based cell manufacturer, has acquired essential components of SOLON’s insolvent companies together with two foreign subsidiaries.
With the recently established Solon Energy GmbH, as the core of the new group, an integrated solar-system provider has been set up. 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). 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.

Solon Energy’s Managing Director Stefan Säuberlich, previously CEO of Solon SE, is pleased with the new strategic investor. "We've known Microsol for many years as a reliable partner. The company has long been our preferred candidate as an investor,” said Mr. Säuberlich. "Microsol has realistically appreciated the potential of Solon, for example, innovational strengths of our staff and our power plant competence. Therefore, I am confident that together we will write a success story in the solar industry.”

The entry of Microsol was also well received in the workforce. "We are pleased with the preservation of many jobs,” said Sabine Lutze, chairman of the works council. “We have gained the impression that working with Microsol as a partner makes us look forward with optimism again."
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