Germany's Schott to float solar business -paper

FRANKFURT, May 13 (Reuters) - German technology group Schott plans to float its solar business unit Schott Solar, German business daily Financial Times Deutschland reported.

Deutsche Bank (DBKGn.DE: Quote, Profile, Research), JPMorgan (JPM.N: Quote, Profile, Research) and Commerzbank (CBKG.DE: Quote, Profile, Research) will manage the initial public offering, the paper said in an article to be published on Wednesday, citing financial sources.

Schott Solar could not be reached for comment. Deutsche Bank, Commerzbank and JPMorgan declined to comment.

A spokesman for Schott Solar said earlier this month that an initial public offering was one of several options for the company to acquire fresh capital to fund future expansion.

Schott Solar is a manufacturer of solar wafers, cells and modules with production sites in Germany, Czech Republic and the United States.

Its total production capacity worldwide adds up to about 130 megawatts (MW) and the company aims for a global annual production capacity of crystalline solar cells and modules of about 450 MW for 2010. (Reporting by Eva Kuehnen; Editing by David Holmes)