As part of its business strategy to minimise its direct manufacturing exposure, Conergy has sold its PV inverter subsidiary, voltwerk electronics to the Bosch Group, heralding its move into the market. Bosch intends to integrate voltwerk electronics operations into Bosch Power Tec. Financial terms were not disclosed. voltwerk electronics employed approximately 100 workers with turnover of around €68 million in 2010.
“In line with our system supplier strategy, we are systematically reducing our own manufacturing depth and focusing Conergy on its international sales activities and on the servicing business, which will become increasingly important in future,” commented Conergy’s Chief Operating Officer Alexander Gorski. “After the restructuring of our own module manufacture initiated at the end of November, a further important step in reshaping the company has now been taken with this deal.”
“Inverters are at the heart of every solar array. In the coming years, therefore, we want to grow with this dynamic market in all the world's major regions,” said Dr. Andreas Stratmann, the general manager of Bosch Power Tec.
Bosch said that it would expand the product portfolio both in and outside the PV sector.