Aleo solar sales down over 60% for first quarter



German-based PV module manufacturer, aleo solar expects first quarter 2014 revenue to be around €11.6 million, a 62.7% fall from the same quarter of 2013.

Although the company did not provide expected losses for the quarter, or explain why revenue had declined so significantly, it would suggest based on previous quarters that losses would increase.

Aleo solar had previously stated that it expected losses for 2013 to exceed half its share value triggering an extraordinary general meeting to be held 15 April.

The company expected losses for the 2013 financial year to reach €100 million (US$136.7 million).

The talks with Taiwan-based solar cell producer, Sunrise Global Solar Energy and Japanese manufacturing machinery producer CHOSHU Industry, to acquire the company and save around 200 jobs is ongoing.

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