Siemens announced it will exit its unprofitable solar business. Siemens is already in talks with potential unidentified buyers. Siemens Industry, Inc. is, however, successful and it will build a new assembly and manufacturing facility in Mauldin, South Carolina.
Siemens said that its expectations in the field of solar energy have not been met due to the changed framework conditions, lower growth and strong price pressure in the solar markets.
Siemens’ solar business only makes up a small portion of the company’s overall sales. In the last fiscal year, revenues from the solar business reached about 300 million Euros. Siemens had total sales of EUR 73.52 billion.
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