Centrosolar: sale of solar glass business

Centrosolar has agreed to sell its solar glass business to Belgian Ducatt, a technology leader for antireflective coated solar glass. The Centrosolar module manufacturing plant will continue to purchase a significant share of its glass need from Centrosolar Glas and Ducatt.

Centrosolar Group AG has signed a share purchase agreement on the sale of 100% of Centrosolar Glas GmbH & Co. KG, Fürth, Germany, to Ducatt NV, Lommel, Belgium. Centrosolar Glas is the technology leader for antireflective coated solar glass offering maximum light transmission. Centrosolar Group AG decided to divest this non-core business as a part of its restructuring programme. Centrosolar sells its glass activities for a symbolic purchase price plus a share of future profits. Thus, Centrosolar reduces its consolidated financial liabilities by approximately EUR 14 million with this transaction. Moreover, the divestment is a milestone for Centrosolar to focus on its core business of PV roof systems for private and commercial applications. The Centrosolar module manufacturing plant will continue to purchase a significant share of its glass need from Centrosolar Glas and Ducatt.
By integrating Centrosolar’s glass processing business into an advanced glass producer significant further cost and technology improvements can be implemented. Centrosolar Glas cannot only profit from synergies with the glass melting activities of Ducatt; but also from Ducatt’s technological edge in thin patterned glass for solar applications. Thin glass is a key prerequisite for a new generation of glass-glass modules that offer a significantly longer life time than the traditional glass-foil modules avoiding the disadvantage of higher weight and cost that carry thick glass-glass modules. Centrosolar introduced a glass-glass module based on thin glass in autumn 2012.