German solar module manufacturer aleo solar AG announced at today's AGM that the search for a new majority investor is ongoing.
York zu Putlitz, CEO of the Oldenburg-based company was unable to name any white knight investor and said the manufacturer is aiming to find a new majority shareholder by the end of September.
The clock is ticking on aleo since German electronics giant Robert Bosch GmbH announced it was withdrawing from the crystalline photovoltaics business in late March. The Bosch Group which holds 90.7% of aleo solar's shares has guaranteed financing only until the end of March 2014.
In an announcement that will come as no surprise but is hardly likely to have investors battering the door down, zu Putlitz said the company expects to make another loss in 2013.
The AGM nevertheless endorsed the management board's strategy and elected Dr Stefan Hartung to the advisory board to replace Dr Siegfried Dais.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.