Siemens focuses on wind, hydroelectric
Source: Agencies |
October 23, 2012, Tuesday
|
Print Edition
Print Edition
SIEMENS AG yesterday unveiled plans to give up its loss-making solar business and focus its renewable energy business on wind and hydroelectric power.
The German company, whose products range from trains to turbines, said it's in talks with possible buyers, but offered no details. It said the move is part of a wider effort to increase its productivity and efficiency.
The solar power industry has been hit by falling subsidies, weaker sales and increasingly stiff price competition.
"Due to the changed framework conditions, lower growth and strong price pressure in the solar markets, the company's expectations for its solar energy activities have not been met," Siemens said.
Several German solar makers, including Q-Cells SE and Solar Millennium AG, have filed for insolvency over the past year. Another German company in the solar market, SMA AG, said last week that it will slash up to 1,000 jobs - about a fifth of its global work force - amid falling revenues and a possible annual loss in 2013 due to the growing price pressures.
Munich-based Siemens said it will keep on offering equipment for use in solar power plants.
The German company, whose products range from trains to turbines, said it's in talks with possible buyers, but offered no details. It said the move is part of a wider effort to increase its productivity and efficiency.
The solar power industry has been hit by falling subsidies, weaker sales and increasingly stiff price competition.
"Due to the changed framework conditions, lower growth and strong price pressure in the solar markets, the company's expectations for its solar energy activities have not been met," Siemens said.
Several German solar makers, including Q-Cells SE and Solar Millennium AG, have filed for insolvency over the past year. Another German company in the solar market, SMA AG, said last week that it will slash up to 1,000 jobs - about a fifth of its global work force - amid falling revenues and a possible annual loss in 2013 due to the growing price pressures.
Munich-based Siemens said it will keep on offering equipment for use in solar power plants.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
