Solarworld Buys Solar Power Unit From Shell

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Solarworld AG (SWV.DE) will buy businesses from Shell to take over as the top maker of solar power equipment in the United States. The news prompted a leap in Solarworld shares, already buoyed by President Bush’s pledge to promote new technology to make the United States less dependent on imported oil. The agreement covered Shell factories in Germany and the U.S. and sales operations in Germany, Singapore and South Africa. The price of the deal was not released and is still waiting for regulatory approval. [ more ]

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