The Bosch Group has acquired a majority stake in Aleo Solar AG, a solar panel manufacturer.
Bosch took a 69% stake in Aleo and is also taking a 60% stake in Johanna Solar Technology GmbH through Aleo, which owns a 17% stake. Both companies are based in Germany.
The acquisitions will "strengthen our photovoltaics business by completing our value added chain and opening up new distribution channels," says Holger von Hebel, president of the Bosch Solar Energy division.
Aleo makes mono- and polycrystalline solar cells which are sold throughout Europe. Aleo also markets Johanna's thin-film CIGS cells, which went into production in 2008. Aleo employs 800 people and Johanna employs 125 people.
In 2008, Aleo's sales were about Euro 360 million, with a factory in Germany and Spain.
