It has been confirmed that French company ArcelorMittal will take over the assets of Exosun.
ArcelorMittal is a global steel and mining company with 199,000 employees, a presence in 60 countries and an industrial footprint in 19 countries. ArcelorMittal is a leading supplier of steel in the automotive, construction, household appliances and packaging markets. In 2016, the company had revenues of $56.8 billion and crude steel production of 90.8 million tonnes.
Exosun, based in Martillac, France, has 10 years’ experience in the solar energy market, and its 43 employees have delivered more than 55 solar farms globally, amounting to a total 700 MW installed capacity.
“We are delighted with this acquisition,” said Frédéric Conchy, founder and chairman of Exosun. “ArcelorMittal is the ideal partner to capture market share in a sector experiencing strong growth and consolidation. Being backed by a strong industrial player is vital to becoming a leading global player.”
ArcelorMittal already operates in the solar energy market thanks to its steel solar frames manufactured in Europe, China and Egypt, and its corrosion and abrasion-resistant Magnelis steel. Being part of ArcelorMittal will enable the new entity to benefit from commercial, industrial and R&D synergies. The group will also leverage its financial strength to allow the entity to serve its customers in the major solar projects.
“With the acquisition of Exosun’s assets, ArcelorMittal’s solar energy offering is taking on a new dimension,” commented Johannes De Schrivjer, CEO of ArcelorMittal Projects. “We will provide our customers with the industrial expertise and guarantees they expect to carry out their projects and contribute even more to the energy transition.”
Exosun assets will be part of the ArcelorMittal Projects division that already has a global activity covering large projects in the energy and civil construction markets.
Exosun is currently being sued by fellow tracking manufacturer Array Technologies over patent infringement. Read more about that development here.