Freiburg, Germany [RenewableEnergyWorld.com] Solar-Fabrik AG has sold its 80 percent holding in Solar-Fabrik Silicon Services Ltd. (SFSS), which itself holds 100 percent of the shares in Poseidon Solar Services Pte. Ltd. The identity of the buyer was not available
Solar-Fabrik has left the field of wafer preparation to focus all of its attention on its core business of solar power modules and systems. The business prospects for the Wafer Preparation Division continued to worsen over the past three quarters, the company said. At present, there is a surplus supply of silicon; as a result, recovered silicon is no longer in demand.
In the interim financial report for Q2 2009, €3.850 million have therefore been written off of the Group’s assets from this sale. In return, Solar-Fabrik AG has received cash in the amount of around €900,000 from the sale