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Germany-based solar module manufacturer SolarWorld, which has a plant in Hillsboro, has declined a number of merger and takeover offers that have come up in light of its faltering stock prices.

CEO Frank Asbeck, who founded the company 13 years ago and owns 27.8 percent of its stock, 聽remarked that he refused the offers largely because the were much lower than what he believes his company is worth. In a recent , Asbeck said, 鈥淚 didn’t sell my stock for 50 euros per share, why should I sell for 5 euros?鈥�

But stock shares in the company fell 50 percent in the past 12 months聽to 4.67 euros per share earlier today, valuing the solar module maker at $740 million.

Bloomberg analysts are forecasting a trend of solar manufacturer bankruptcies, not mergers or acquisitions. Following a boom in solar cell building in 2010, interest in the renewable energy source has waned because of decreased demand in Europe, where governments are trying to curb a glut in installations and trim their budgets.

Solarworld opened its Hillsboro plant in 2008 and employs around 1,000 people at that location.

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