Volker Böhm, insolvency administrator for German Solar Millennium has sold the company’s stake in Flagsol to industrial solutions provider Ferrostaal, it has been announced. Ferrostaal has announced that it will take over and continue operations as well as take over all 80 Flagsol employees. Flagsol’s headquarters will also remain in Cologne, Germany.

Solar Millennium filed for insolvency at the end of 2011.

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