Saint Gobain completes takeover of Solarwood Technologies

French construction materials and solar equipment producer Saint Gobain has bought the remaining 70 percentof shares it did not already own in solar panel manufacturer Solarwood Technologies for an undisclosed sum.

Solarwood Technologies manufactures PV roof tiles at its facility in Foetz, Luxemburg. The plant has an annual capacity of 15MW, which Saint Gobain intents to increase to 30MW.

“We’re expanding fast in France right now and looking to build another PV tile plant on a second site currently under selection, which should be up and running in the second half of 2010,” says Benoît Richard, managing director of Saint-Gobain Solar Systems, according to a Feb. 8 Recharge report..

Read full article