euro adhoc: centrotherm photovoltaics AG
Mergers - Acquisitions - Takeovers /
centrotherm photovoltaics acquires solar silicon specialist SolMic
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Company Information
22.08.2008
centrotherm photovoltaics acquires solar silicon specialist SolMic
- Consistent implementation of Group strategy - Expansion of the high-growth solar silicon division - Plan to integrate centrotherm Thermal Solutions by increasing non-cash capital - Expertise for fully integrated factories entirely under one roof
Blaubeuren, August 22, 2008 - centrotherm photovoltaics AG, Blaubeuren, is consistently pursuing its strategy of integrating key equipment and technology into the Group. The aim is to further expand technology leadership along the solar value-creation chain. The Management Board, with the agreement of the Supervisory Board, has today signed an agreement relating to the complete takeover of SolMic GmbH, Burghausen. SolMic is a specialist for technology and engineering services revolving around design and process-optimization for the production of polysilicon, ingot and wafers. The complete acquisition of this important company for its solar silicon division allows centrotherm photovoltaics to combine technology and plant engineering. It allows the company to completely combine its expertise for fully integrated factories under one roof.
centrotherm photovoltaics has so far held 50 percent of SolMic via its subsidiary GP Solar GmbH. Managing director Dr. Albrecht Mozer held the remaining shares. SolMic, with a workforce of 30 employees, generated total output of EUR 10 million in the first half of 2008. The company achieved total output of around EUR 13.1 million in 2007 financial year. Confidentiality was agreed concerning the purchase price, which consists of equity and cash components. Dr. Albrecht Mozer (56) was CTO of a renowned, German manufacturer of polysilicon, ingot and wafers, before founding SolMic. The complete acquisition of SolMic also allows centrotherm photovoltaics to raise its direct stake in the former centrotherm SiQ GmbH joint-venture from 80.5 percent to 100 percent. centrotherm photovoltaics procures key equipment for the manufacturing of solar silicon, particularly Siemens reactors and converters, as well as vent gas recovery plants, via centrotherm SiQ. centrotherm SiQ has also reported highly successful business performance: centrotherm SiQ, with a workforce of around 30 employees, generated total output of EUR 5.9 million as of June 30, 2008. Total output was EUR 0.8 million in 2007. The next step envisages merging both subsidiaries in order to simplify structures. Dr. Albrecht Mozer will manage the merged company, and will be responsible for all centrotherm photovoltaics' activities in the solar silicon area in the future.
As part of the consistent pursuit of its strategy of integrating key equipment and technology into the company, the management and supervisory boards of centrotherm photovoltaics are currently examining the option of integrating sister company Thermal Solutions GmbH & Co. KG into the Group by way of an increase in non-cash capital. Thermal Solutions GmbH & Co. KG is a leading producer of manufacturing plant for the photovoltaics and semiconductor industries, and centrotherm photovoltaics' largest supplier.
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centrotherm photovoltaics AG Johannes-Schmid-Strasse 8 89143 Blaubeuren Internet: www.centrotherm-pv.de
ISIN: DE000A0JMMN2 WKN: A0JMMN Admitted to the Regulated Market/Prime Standard, Frankfurt Securities Exchange Corporate domicile: Germany
end of announcement euro adhoc
Further inquiry note:
Company contact:
Saskia Schultz-Ebert
Senior Manager Investor Relations
Tel: +49 7344 918-8890
E-mail: saskia.schultz-ebert@centrotherm.de
Press contact:
Christina Siebels, Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 3690 50-58 /-31
E-mail: c.siebels@hoschke.de; g.pauli@hoschke.de
Branche: Energy
ISIN: DE000A0JMMN2
WKN: A0JMMN
Börsen: Börse Frankfurt / regulated dealing/prime standard