Centrolsolar Acquires Majority Shares in Solarstocc

[RenewableEnergyAccess.com] Germany’s Centrolsolar has finalized the acquisition of 66 percent of German solar company Solarstocc, based in Durach. Solarstocc develops, manufactures and markets complete photovoltaic systems specifically for private households. The company was established in 2002 and has around 40 employees. By 2004, Solarstocc was already posting revenue of EUR 15 million. Revenue is set to rise again to around EUR 25 million in 2005. Solarstocc’s current management, who are also the company’s founders, will keep the remaining 34 percent stake. According to a joint statement from the companies, Centrosolar is expected to eventually become the solar shareholder in the company Solarstocc, which will gain EUR 10 million from this initial arrangement.
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