Siemens to take further writedown on solar business

05 Nov. 2012 by

REUTERS - German engineering conglomerate Siemens (SIEGn.DE) will have to take additional gross writedowns of more than 250 million euros ($321.13 million) on the solar business that it is exiting, a German paper reported.

The additional amount is made up of writedowns on the value of company units, operational losses and writedowns on solar projects that have already been started, Financial Times Deutschland reported in a story to be published on Monday, citing company sources.


Read full article online