I D
× COMMENTARYEDITOR'S PAGECOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More
Chemical Engineering MagazineChementator Briefs
Nanofiltration Toray Industries, Inc. (Tokyo, Japan; www.toray.com) has created what…
BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILEEQUIPMENT & SERVICESFOCUSNEW PRODUCTS + Show More SHOW PREVIEWS

Comment Business & Economics

Siemens to acquire Solel Solar Systems

By Gerald Ondrey |

Siemens AG (Munich, Germany; www.siemens.com) is to acquire the solar thermal power company Solel Solar Systems Ltd. (Beit Shemesh, Israel; www.solel.com) To date, the majority stake has been held by Ecofin Ltd., a London-based investment firm, and another major shareholder. “After the rapid and highly successful expansion of our wind power business, we now want to continue this success story in the solar sector. With the acquisition of Solel, Siemens can now strengthen its market position in the promising business of solar thermal power plants. We can thus further expand our extensive Environmental Portfolio — and, as already announced, we will become even greener,” says Siemens president and CEO Peter Löscher.  Solel Solar Systems has a workforce of over 500 and is one of the world´s two leading suppliers of solar receivers, which are key components of so-called parabolic trough power plants. The high-growth company, which posted revenue totaling almost $90 million in the first six months of its current fiscal year (January 1 to June 30, 2009), is also a leader in the planning and construction of solar fields. The purchase price is about $418 million. The transaction is subject to approval by the…
Related Content

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
How separation processes profit from Industrial Internet of Things (IIoT) solutions
Up to 80% increased production rates in plastic recycling
Higher throughput and purity in sodium bicarbonate production with up to 15% less energy consumption
Help feeding nations with chemical filtering technologies
Not at the forefront of Industry 4.0?

View More

Live chat by BoldChat