FRANKFURT, Dec 23 (Reuters) – E.ON EONG.DE and RWE
(RWEG.DE: Quote, Profile, Research), Germany’s top utilities, need fresh ideas for their
expansion strategy after setbacks this week that suggest it will
not be easy for them to find growth and lower debt in a
E.ON (EONGn.DE: Quote, Profile, Research) on Thursday lost a bid for Portugal’s stake
in EDP (EDP.LS: Quote, Profile, Research) — a move that would have given it exposure to
the fast-growing Brazilian market and increased its renewables
reach — while RWE (RWEG.DE: Quote, Profile, Research) said talks with Russia’s Gazprom
(GAZP.MM: Quote, Profile, Research) about power production ventures had failed.
FRANKFURT, Dec 22 (Reuters) – Patent firm IPCom has
sued German retailers for patent infringement for continuing to
sell phones made by HTC, the No. 4 smartphone vendor
A court in Mannheim, Germany, ruled in February 2009 against
HTC in a patent fight with IPCom, allowing an injunction against
sales of HTC phones using UMTS technology and setting a penalty
of up to 250,000 euros ($326,200) each time the injunction was
FRANKFURT, Dec 22 (Reuters) – RWE AG and
Gazprom have terminated talks about joint power
production ventures, a setback in the German utility’s efforts
to seek Russian-funded growth to help make up for its domestic
market’s exit from nuclear power.
“Although our discussions were conducted in a very
constructive manner we were unfortunately not able to agree on a
framework for cooperation which would be sustainable for both
parties,” RWE Chief Executive Juergen Grossmann said in a
statement on Thursday.
FRANKFURT/LOS ANGELES, Dec 21 (Reuters) – Solar Millennium
AG (S2MG.DE: Quote, Profile, Research) became the second German solar company to file for
insolvency this month, as the company ran out of cash before it
was able to finalize deals to sell large projects in the United
States and Spain.
BERLIN/FRANKFURT (Reuters) – When Tino Blaesi joined the solar sector gold rush, he thought his career was made. Seven years later, he is looking for a job outside the industry after his company slashed more than a third of its workforce in one day.
Workers in Germany’s once booming solar energy industry face a shakeout of major proportions following declines in the price of solar panels over the past year.
FRANKFURT (Reuters) – Solon’s insolvency filing is likely to be followed by other high-profile German solar company failures, analysts said, as the blood-letting in the global industry intensifies.
Shares in Solon plunged 58 percent on Wednesday after the solar module maker announced the filing late the previous day, becoming Germany’s first major casualty of a crisis in the sector.
FRANKFURT, Dec 13 (Reuters) – E.ON (EONGn.DE: Quote, Profile, Research) was one
of the biggest fallers on Germany’s blue-chip stock index on
Tuesday morning after a 3 billion euro ($4 billion) impairment
charge raised more questions about how the utility will adjust
to limited growth in its home market.
Germany’s decision to abandon nuclear power threw E.ON into
crisis earlier this year, forcing it to cut its dividend, 11,000
jobs, and its outlook. [nLDE7780PG]
FRANKFURT, Dec 9 (Reuters) – German industrial
conglomerate Siemens said it would form two joint
ventures with China’s Shanghai Electric to expand
its foothold in the country’s wind turbine market, the world’s
Siemens, which is the world’s No.9 maker of wind turbines,
said it would provide wind turbine technology and know-how in
the offshore sector, as well as experience in project
FRANKFURT, Nov 25 (Reuters) – Manroland, the
world’s third-biggest printing machine maker, filed for
insolvency on Friday, a move that could give top rivals
Heidelberger Druck and Koenig & Bauer more
Bears see Heidelberg’s own troubles being too deep and its
business too far from Manroland’s for it to benefit. Bulls,
however, see Heidelberg achieving better prices and increasing
FRANKFURT, Nov 14 (Reuters) – Three of Europe’s top
renewable companies said prices were still falling amid
oversupply and lower government incentives, echoing recent
comment from peers in China and the United States.
SolarWorld, Germany’s No.2 solar company by sales,
cut its outlook on Monday, saying it no longer expected 2011
revenue to reach last year’s 1.3 billion euros ($1.8 billion).