Business/economy

1,000 out of 1,400 jobs preserved in all Sale of Bosch Solar Energy’s cell and module production in Arnstadt to SolarWorld Bosch to manufacture automotive electronic product in Arnstadt from the autumn

  • Instead of site closure, good prospects for great majority of associates
  • Consummation of purchase agreement signed in November 2013
  • Bosch service organization and trading company have begun operations
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  • March 12, 2014
  • Business/economy
  • Press releases

press release

Stuttgart/Arnstadt – The deal under which the production of crystalline photovoltaic cells and modules in Arnstadt will be sold by Bosch to SolarWorld has been closed. All the conditions for consummating the purchasing agreement signed in November 2013 have been fulfilled, including the approval of the antitrust authorities and the conclusion of a reconciliation of interests for the Bosch Solar Energy associates transferring to SolarWorld Industries-Thüringen GmbH. The parties have agreed not to disclose any details of contractual conditions.

In total, 1,000 of the currently 1,400 jobs at the Arnstadt location have been preserved. “We have achieved our goal of selling parts of the operation and relocating an alternative Bosch business, and in this way of offering jobs to as many associates as possible,” said Dr. Volkmar Denner, Chairman of the Board of Management of Robert Bosch GmbH. “In this way, we can offer a perspective for the large majority of associates instead of closing the site. We have invested a lot of time and considerable sums of money in making this possible.”

In addition to the roughly 800 associates who are transferring to SolarWorld, Bosch will employ a total of roughly 250 associates at the Arnstadt location. The Bosch service organization and trading company have already commenced operations. From the autumn of 2014, Bosch will also be manufacturing an automotive electronic product in Arnstadt. The preliminary preparations are currently underway.

In addition, negotiations are being held with the employee representatives to discuss the reconciliation of interests and social compensation plan for those associates not transferring to SolarWorld Industries-Thüringen GmbH.

Despite increased efforts by Bosch, together with the Thuringian government and state development corporation, the potential investor from the pharmaceuticals industry has abandoned its original plans to manufacture in Arnstadt, citing business reasons.

For the module plant in Vénissieux, France, it is planned to offer a comparable solution to the one for Arnstadt. Talks with a potential investor have now reached an advanced stage.

On February 5, 2014, aleo solar AG, based in Oldenburg and Prenzlau, Germany, signed an agreement to sell its module production in Prenzlau to SCP Solar GmbH. SCP Solar GmbH is a joint venture of the Taiwanese company Sunrise Global Solar Energy Co., Ltd., the Japanese company CHOSHU Industry Co., Ltd., and the U.K.-based Pan Asia Solar, Ltd. The buyer will also take over the “aleo” brand, and intends to create jobs for roughly 200 associates. As the main shareholder (90.7 percent stake), Bosch is providing finance to help aleo put this deal into practice. The aleo board of management has examined several options, including completely winding up the business operations. To give roughly 200 associates the chance of finding employment with the acquiring company, Bosch is accepting additional costs for this transaction running into seven figures. Financially, a complete winding up would have been the far more favorable option. Bosch is providing aleo with financial support for the transaction and for dissolving the residual business not included in the transation. This means that the bankruptcy of aleo can be avoided. The transaction is subject to approval by general shareholders meeting and the antitrust authorities, among other things.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of 70.6 billion euros in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing and sales network covers some 150 countries. The basis for the company’s future growth is its innovative strength. Bosch employs 55,800 associates in research and development at 118 locations across the globe. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

PI8518 - March 12, 2014

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