Advanced Energy To Explore Alternatives For Solar Inverter Business

(RTTNews) - Advanced Energy Industries Inc. (AEIS) on Monday said it has started to explore strategic alternatives for its Solar Inverter business, which includes a sale, joint venture and other alternatives.

The company said its considering various options including a sale, joint venture, partnership, licensing or other alternatives including additional product line optimization and rationalization, in order to maximize shareholder value.

"We concluded that the Solar Inverter business as currently configured required a review of our strategic alternatives to capitalize on its strong product portfolio and customer relationships," said Yuval Wasserman, President and Chief Executive Officer.

The company plans to continue offering its inverter products and services, and supporting its customers during this process. There can be no assurance that the company will enter into a transaction in the future.

As a result of the company's strategic review and resulting retirement of certain central inverter legacy products, the company expects to record a non-cash inventory charge of between $10 and $14 million in the fourth quarter.