CORRECTED - Bosch may exit solar business - report

(Corrects erroneous figure)

A corrected version follows:

(SeeNews) – Oct 2, 2012 - German industrial group Bosch may withdraw from the solar sector due to political uncertainties in connection with Germany's energy transition, German paper Financial Times Deutschland (FTD) reported on Monday.

The newspaper's report is based on a statement made by Bosch's supervisory board head Franz Fehrenbach, who said that even a long-term oriented company like Bosch cannot hold on to a future-oriented business like photovoltaics (PV) forever.

However, German PV Magazine reported on Monday, citing a company's statement, that Bosch has distanced itself from FTD's report but has also not denied it.

Bosch has been investing in the solar business since 2008. However, in August 2012, the company announced that it will shut down its 30 MW thin-film silicon modules production plant in Erfurt, Germany, and plans to decide on the future of its solar business by the end of the year.

According to FTD, the company's solar division generated a loss of EUR 1.3 billion (USD 1.67bn) in 2011.

(EUR 1.0 = USD 1.291)

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