FRANKFURT (Reuters) – Germany’s Centrotherm (CTNG.DE: Quote, Profile, Research, Stock Buzz), the world’s No.2 solar equipment maker, cut its forecast for 2011 sales and operating margin, becoming the latest casualty of a crisis in the solar sector.
The news comes after U.S.-based First Solar (FSLR.O: Quote, Profile, Research, Stock Buzz) slashed its profit forecast earlier this week, adding it would slow spending as the industry struggles to adjust to a steep decline in the price of solar panels.
FRANKFURT, Oct 28 (Reuters) – German specialty chemicals
group Wacker Chemie cut its full-year outlook,
pointing to recovering production by Japanese competitors and
tighter inventories at its polysilicon clients in the fourth
Larger peer BASF warned of reduced inventories at
customers a day earlier while other European chemicals groups
braced for slowing demand in Europe.
FRANKFURT/NEW YORK (Reuters) – The solar industry is in for a dire quarter as falling government subsidies and low volumes further drive down equipment prices at a time when oversupply has already led many sector players to lower their full-year profit outlook.
A pick-up in demand for solar panels, widely expected by industry players for the second half, failed to materialize, pushing several U.S. companies, most notably panel maker Solyndra LLC, to file for bankruptcy in recent months.
FRANKFURT/HONG KONG, Oct 20 (Reuters) – Chinese solar
companies could soon find themselves bereft of some of their
biggest foreign markets as Western manufacturers intensify a
solar trade war and seek stiff anti-dumping duties on low-cost
German group SolarWorld said on Thursday it was
working on steps to curb alleged price dumping by Chinese rivals
in Europe .
FRANKFURT/DUESSELDORF, Oct 20 (Reuters) – German group
SolarWorld said it may take steps against alleged
price dumping by Chinese rivals in Europe after its U.S. unit
filed a complaint, the latest move in the solar trade war.
“We are currently reviewing several options for how to throw
this forward over here,” SolarWorld Chief Executive Frank Asbeck
told Reuters on Thursday.
(Reuters) – Most solar power component makers are coping with lower margins these days because of an industry downturn — but solar inverter makers are suffering less.
Unlike companies that make solar panels and cells, solar inverter makers enjoy some insulation from competition and the weak economy. Their products are complex and harder to make, and prices have stayed relatively stable.
FRANKFURT (Reuters) – SolarWorld, Germany’s No.2 solar player by sales, expects anti-dumping complaints to be filed against China’s solar industry and would actively support such action, its chief executive said.
“Based on the facts, we think that such complaints will have to be filed,” Asbeck said, adding he would “welcome” a U.S. trade complaint against China and anti-dumping penalties in the European Union.
FRANKFURT (Reuters) – Investors in Germany’s DAX will reap much weaker returns this year than predicted just three months ago as analysts slash forecasts on worries that Europe’s debt crisis will crimp profits at some of the world’s strongest companies.
The DAX is now expected to end the year at 6,000, up over 7 percent from Wednesday’s close of 5,578 points but posting a loss of 13 percent for the year, according to the median of 26 strategists polled by Reuters.
* Now sees 2011 sales of 1.5-1.7 billion euros
* Sees year EBIT of 220-300 million euros
* Reports minor recovery in demand for solar inverters
* Shares down 9.5 percent
(Adds details, background, share impact)
FRANKFURT, Sept19 – SMA Solar (S92G.DE: Quote, Profile, Research), the world’s biggest
maker of solar inverters, slashed full-year targets only days
after its chief executive called the outlook challenging,
confirming fears the industry bellwether was not immune to
The company said there had been only a minor recovery in
demand since mid-summer, blaming uncertainty on solar incentive
cuts in Germany, the world’s biggest solar market, and fallout
from the euro zone debt crisis.
FRANKFURT (Reuters) – E.ON is in talks with China’s wind turbine makers, the chief financial officer of its renewable operations said, adding the German utility may in future source turbines produced in the world’s largest wind market.
“We have been talking to half a dozen manufacturers and are looking in detail at costs and benefits,” Cord Landsmann, chief financial officer of E.ON’s climate and renewables unit, told Reuters in an interview.