Klimaretter, the German catastrophe-obsessed warmist site that dedicates itself to “rescuing the climate”, has a story today of the ongoing bloodbath in the German solar industry, here.
Engineering giant Bosch issued a press release in English here, where it reports that a cooling global economy has slowed the pace of growth of the Bosch Group.
But the real damage has come from its solar arm: “a likely one billion euros of impairments and losses in the difficult photovoltaics business had a significant effect on the earnings situation”.
According to klimaretter.de, Bosch’s solar arm posted an operating loss of 450 million euros in 2012. In addition, the solar arm took unplanned special depreciations totaling about 600 million euros. Therefore the losses totalled more than 1 billion euros in 2012 alone. That comes on the heels of “impairments” of 560 million and 425 million euros in 2011 and 2010 respectively.
According to Bosch, the solar arm is currently worth zero euros.”
It goes without saying, the company’s 2000 solar workers now face an extremely precarious future. Already one plant in Erfurt was shuttered at the end of the year.
Instead of focusing on saving the planet from an imaginary climate catastrophe, one that is generated by dubious models concocted by environmental kook physicists, klimaretter.de perhaps ought to focus more on real issues, like rescuing German jobs by promoting sensible policies.