On Thursday 4 January, the commercial court of Bordeaux gave the green light to the offer of asset recovery by ArcelorMittal of the French manufacturer and world leader in solar trackers, Exosun, which has been in receivership. 

Our sister outfit Paperjam writes that ArcelorMittal has been interested in this sector since the early 2000s, particularly through its subsidiary Downstream, through which it provides metal structures for power plants with several production sites in Europe, China and Egypt. 

According to the group, this acquisition should also provide the new entity with significant industrial, commercial and research and development synergies and provide it with the financial strength it needs to respond to its customers on large solar projects.

Founded in 2007 and based in Martillac, Gironde, Exosun has developed a tracker technology that allows photovoltaic panels to always be oriented in the best way to capture a maximum of sunlight. Today with subsidiaries in the United States, Brazil, Mexico and Spain, the company has for some time suffered from increased competition in the solar energy sector, which had forced it to reduce its workforce last year.