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Production equipment and plant construction firm RENA has pinned its hopes for a successful restructuring process on the expected upturn in the solar industry. The company, headquartered in Gutenbach, Germany, announced that it would be jettisoning the subsidiary SH&E and refocusing on its core business, which RENA describes as “machine-building”. This includes wafer assembly machines and thin-film processing technologies.
According to RENA, the company is expecting prospects to improve in core business areas, including solar. The company refers to its “traditional strengths” in supplying high-tech machines for renewable energy including solar as well as for medical applications and the pharmaceutical industry, in addition to the circuit board and semiconductor industries. RENA also referred to expected new business in the areas of semiconductor production and medical technology which would boost the core business.
RENA stated that incoming orders in the past five months had outperformed the same period in the preceding year, with order numbers doubled. The company claims there has been a commensurate improvement in capacity utilisation in core business areas.
SH&E, the RENA subsidiary concerned with plant building for water processing and recycling technologies, has filed for insolvency in a court in the German city of Waldshut-Tiengen. RENA executive management no longer sees further financing of SH&E as viable through the parent company and a statement referred to SH&E undergoing a separate process of “rehabilitation”.