Conergy AG (CGYG.DEs) announced that it has sold its solar thermal business in Belgium and the Netherlands to focus exclusively on solar electricity.
Conergy CEO Dieter Ammer said, "The sale is an important step in the restructuring program through which we are aligning Conergy with our core competence in the solar electricity business. This will reinforce our earning capacity and we will soon be back on the road to success."
The sale included Belgian Conergy bvba, based in Lille. The company is involved in the production of solar thermal collectors and the associated business-to-business sales structure for Belgium and the Netherlands.
Conergy also sold Redenko bv, which, based in Breda in the Netherlands, sells heat pumps and district heating systems to its regional customers.
The buyer of both subsidiaries was ZEN International bv. Having previously managed Conergy’s thermal business in Belgium and the Netherlands, they have now taken over Conergy bvba and Redenko bv as part of a management buyout.
Conergy AG said in the near future it will sell additional, non-strategic activities and sectors, and as a result concentrate entirely on its core competences in the development, production, sale and installation of photovoltaic components and systems.
About Conergy
Conergy AG produces, installs and plans solar systems for its customers in more than 20 countries. It is one of the leading solar enterprises in Europe and with over 70,000 solar systems installed. The Conergy Group is now represented by branch offices on four continents.
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