NewsSystovi Seeks Buyer Amidst Concerns of Chinese Dumping

Systovi Seeks Buyer Amidst Concerns of Chinese Dumping

Systovi, a prominent French manufacturer of solar panels, is currently experiencing a significant decrease in sales and is actively seeking a buyer for its operations. The company, which has been producing solar energy equipment at its facility in Carquefou near Nantes since 2008, is facing challenges due to intense competition from Chinese suppliers.

According to a recent press release, Systovi, a subsidiary of the Cetih group since 2018, is struggling to compete with Chinese manufacturers in the solar panel market. Despite making substantial investments in expanding its production capacity to 80 MW, the company is finding it difficult to keep up with the influx of cheap Chinese panels flooding the European market.

The surge in Chinese dumping, fueled by increased local production capacity and trade restrictions in the US, has led to a sharp decline in Systovi’s sales. As a result, the company is now seeking a buyer to secure its future in the midst of these challenging market conditions.

This decision comes on the heels of similar moves by other European solar companies, such as Meyer Burger, which recently halted its module production in Germany to mitigate losses. Systovi is actively engaging in discussions at both the national and European levels to address these challenges, but the company acknowledges that the timeline for any potential solutions may not align with its immediate needs.

In light of these developments, Systovi remains committed to finding a suitable buyer to take over its design, production, and commercial activities. The company’s announcement underscores the impact of Chinese dumping on the European solar industry and the need for regulatory intervention to level the playing field for domestic manufacturers.

Overall, Systovi’s decision to seek a buyer highlights the ongoing struggles faced by European solar companies in a highly competitive global market. As the industry continues to evolve, it is crucial for companies like Systovi to adapt to changing market dynamics and seek solutions to sustain their operations in the long term.

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