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Abonner centrotherm photovoltaics AG

centrotherm photovoltaics AG

euro adhoc: other
centrotherm photovoltaics acquires 100 percent of GP Solar

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
29.04.2008
•       Remaining 25.2 percent of subsidiary acquired
•       Dr. Peter Fath appointed CTO
•       Expansion of technology expertise
Blaubeuren, April 29, 2008 - Today, the management and supervisory 
boards of centrotherm photovoltaics AG signed an agreement to acquire
the entirety of GP Solar GmbH. The company, which is based in 
Constance, provides products, consultancy services, and technology 
for photovoltaics with a focus on quality control and process 
technology for the manufacturing of solar cells and solar modules. GP
Solar currently employs a workforce of over 70 members of staff. The 
purchase price is subject to a confidentiality agreement.
The acquisition enables centrotherm photovoltaics to take an 
important step forward in its strategy of expanding its solar silicon
division, and in the simplification of the Group structure: the 
acquisition of the remaining 25.2 percent of GP Solar now means the 
company holds larger indirect stakes in SOLMIC GmbH and centrotherm 
SiQ GmbH. Both companies are important partners in the solar silicon 
area.
centrotherm photovoltaics already holds 74.8 percent of GP Solar. The
founder and Managing Director of GP Solar, Dr. Peter Fath (40), held 
the remaining percents. He will strengthen the Management Board team 
of centrotherm photovoltaics AG from May 1, in his role as Chief 
Technology Officer (CTO). To date, the Management Board has consisted
of three members. Dr. Fath, who holds a doctorate in physics, will be
responsible for the newly created Management Board area of Overall 
Technology, Research & Development, and Group Marketing. His initial 
focus will be on further expanding the company´s technology expertise
in the areas of crystalline solar cells, thin-film technology, and 
solar silicon. Dr. Fath will also be responsible for developing and 
implementing the marketing strategy across the centrotherm Group. In 
addition, Dr. Peter Fath will be active as Managing Director of 
centrotherm Photovoltaics Technology GmbH.
---- - End of the ad hoc announcement -
Dr. Peter Fath, who is a native of Baden-Württemberg, has to date 
been active as Managing Director of GP Solar GmbH. Dr. Fath founded 
GP Solar in Constance in 1999. He also founded SOLMIC GmbH together 
with a partner in 2005. SOLMIC GmbH is based in Burghausen. Dr. Fath 
is still a member of the management of SOLMIC GmbH. Before founding 
SOLMIC and GP Solar, Dr. Fath was responsible for research and 
development at Sunways AG. Dr Fath looks back on a 17-year career in 
photovoltaics in the areas of R&D, engineering, technology transfer, 
and consulting, accompanied by over 170 publications and numerous 
patents. He has been awarded several national and international 
prizes for his work. "The appointment of Dr Faith appropriately 
strengthens our Management Board team, with the aim of further 
expanding our technology expertise and anchoring our fine-tuned 
Group-wide marketing strategy in a target group focused manner," 
commented Robert Hartung, Spokesperson for the Management Board of 
centrotherm photovoltaics AG. "This is a particularly important area 
since our international customer base is expanding continuously, and,
besides suppliers from various sectors, increasingly also includes 
energy supply companies and capital investors. We always keep one 
objective in sight in this respect - namely our aim to use our 
technology expertise to enable our customers to significantly reduce 
their production costs, and consequently achieve decisive competitive
advantages."
About centrotherm photovoltaics AG centrotherm photovoltaics AG is an
internationally leading provider of technology and services for the 
production of solar cells and solar silicon. The broad product 
spectrum comprises key equipment and turnkey production lines for 
crystalline and thin-film solar cells. The product range is 
supplemented by reactors and converters for the manufacturing of 
solar silicon. Business operations currently focus on the growth 
market of Asia. The international customer base includes well-known 
companies from the solar sector. The company, which is based in 
Blaubeuren near Ulm, currently has over 320 employees.
end of announcement                               euro adhoc

Further inquiry note:

Company contact:
Saskia Schultz-Ebert
Tel: +49 (0) 7344 918-8890
saskia.schultz-ebert@centrotherm.de

Press contact:
Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 3690 50-31
E-mail: g.pauli@hoschke.de

Branche: Energy
ISIN: DE000A0JMMN2
WKN: A0JMMN
Börsen: Börse Frankfurt / regulated dealing/prime standard

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