Astronergy acquires Conergy Frankfurt factory

China-based thin film module producer, Astronergy, is to buy Conergy’s Frankfurt modules factory.

Contracts were signed today for the acquisition of the factory with the new company to trade under the name Astronergy Solarmodule.

The contract secures 210 jobs long term. There will be a reduction of 70 jobs; workers will be in interim employment, retaining 80% of wages and given new training provided by Astronergy. 

Talks on a buyer for Conergy’s mounting system arm are still under way.

“Quality and security are playing an increasingly important role in long-term investments. With modules ‘made in Germany’, we can offer this to our customers. The integration of the factory into our existing structures leads to numerous advantages and synergies in all areas of the value chain. We will produce profitably at the Frankfurt factory and further develop the site in the future” said Chuan Lu, vice president of Astronergy.

Yesterday the auction for the Frankfurt factory’s wafer equipment began.

The acquisition by Astronergy is the second in Conergy’s insolvency procedures, with Kawa Capital having already finalised its acquisition of the global Conergy sales and service units.

Conergy has said it is now in a better position than before its insolvency with no debt.