Shell Buys Siemens Solar

, one of five core businesses of the Royal Dutch/Shell Group, has acquired that portion of the old

Siemens Solar Industries that they did not already own. In March 2001, Siemens AG sold a portion of their photovoltaic (PV) subsidiary, entering into a joint venture comprised of Siemens, E.ON Energie AG, and Shell. Each of those partners owned about a third of the venture, which was known as Siemens und Shell Solar GmbH. The new business, owned 100% by Shell, will be known as

Shell Solar. It will remain headquartered in Camarillo, California and will control about 15% of the global PV market.