EANS-News: SOLON SE
SOLON Launches New Strategy for U.S. Business
16.08.2011 – 09:44
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Strategic management decisions Berlin (euro adhoc) - SOLON Launches New Strategy for U.S. Business Berlin, August 16, 2011. In conjunction with its Group-wide restructuring program, SOLON will increase the focus of its North American activities on the project business. To this end, it will further expand its sales and project activities at the headquarters of the U.S. subsidiary SOLON Corporation in Tucson, Arizona, and at the other offices in Phoenix and San Francisco. SOLON Corporation will also strengthen its concentration on the development and marketing of new products in the growing commercial and utility segments. In conjunction with the new strategic alignment, the decision was made to ramp down module manufacturing in Tucson by October this year. With an annual capacity of 60 MW, Tucson is one of the smaller production facilities in the SOLON Group and has been used primarily for the manufacture of standard solar modules. The production ramp down will affect about 60 of the 130 employees working at the Tucson site. SOLON Corporation was founded in 2007 and today is one of the leading providers of photovoltaic solutions in the U.S.. Its core business is the planning and construction of turnkey solar plants. The strategic realignment allows for greater flexibility in the U.S. power plant business and also forms an integral part of the corporate strategy to improve the SOLON Group´s cost position. "The North American market is an important pillar of our international corporate strategy. In the first half of this year we generated about a quarter of our revenue in the U.S. business. Today, SOLON is one of the leading solar partners for major U.S. energy suppliers. Our strategic realignment gives us an opportunity to continue to strengthen our competitive position in the USA," says Stefan Säuberlich, CEO of SOLON SE. SOLON SE: SOLON SE is one of the largest manufacturers of solar modules in Europe and is also a supplier of solar system technology for large-scale rooftop and greenfield installations. The SOLON Group has subsidiaries in Germany, Italy, France, and the USA and more than 800 employees worldwide. SOLON´s core business is the production and distribution of solar modules and photovoltaic systems as well as the planning and construction of large rooftop systems and turnkey solar power plants worldwide. SOLON SE Therese Raatz Investor Relations PHONE: +49 30 818 79-9305 Fax: +49 30 818 79-9300 Email: therese.raatz@solon.com Further inquiry note: Therese Raatz Head of Corporate Communications Tel.: +49 30 818 79-9305 E-Mail: therese.raatz@solon.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: SOLON SE Am Studio 16 D-12489 Berlin phone: +49 30 818 79-9305 FAX: +49 30 818 79-9300 mail: investor@solon.com WWW: www.solon.com sector: Energy ISIN: DE0007471195 indexes: Midcap Market Index, CDAX, HDAX, Technology All Share, GEX, ÖkoDAX stockmarkets: regulated dealing/prime standard: Frankfurt, regulated dealing: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English