EANS-News: SOLON SE
SOLON sells stake in ml&s
-------------------------------------------------------------------------------- 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 sells stake in ml&s
Berlin/Greifswald, April 21, 2011. SOLON has reported the sale of its shareholding in industrial services provider ml&s manufacturing, logistics and services GmbH & Co. KG (ml&s) based in Greifswald, north-east Germany. Its shares have been acquired by Hydraulik Nord GmbH, Parchim, also in north-east Germany. Like ml&s, the new shareholder specializes in industrial services.
The sales proceeds will not be available to SOLON until the entire financial restructuring has been completed. The parties have agreed not to disclose any further details of the transaction. Solar company SOLON had worked with ml&s on solar module production since 2004, becoming a shareholder in ml&s in 2008, and until recently it held a stake of around 49 percent in its partner company.
SOLON's CEO Stefan Säuberlich said that the sale of its shareholding was part of a corporate strategy of focusing more closely on core business. He also stressed that the Greifswald site would continue to play a key role in SOLON's production strategy. "SOLON Nord in Greifswald remains our biggest and most important production site in Europe, not least because of our successful partnership with ml&s. Going forward, we plan to continue with this proven partnership model."
Udo Possin, Managing Director of ml&s, believes that the change of control will strengthen the Greifwald company's position in the market, and said: "We will be able to maintain our growth trajectory while diversifying, without neglecting our current market strengths."
About SOLON SE: SOLON SE is one of the largest manufacturers of solar modules in Europe as well as a supplier of solar system technology for large-scale rooftop and greenfield installations. The SOLON Group has subsidiaries in Germany, Italy, France and the U.S. and employs more than 800 people worldwide. SOLON´s core business is producing solar modules and photovoltaic systems along with planning and constructing large rooftop installations and turnkey solar power plants all over the world.
SOLON SE Sylvia Ratzlaff Public Relations FON: +49 30 818 79-9310 FAX: +49 30 818 79-9300 E-Mail: sylvia.ratzlaff@solon.com
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
Therese Raatz
Head of Corporate Communications
Tel.: +49 30 818 79-9305
E-Mail: therese.raatz@solon.com
Branche: Energy
ISIN: DE0007471195
WKN: 747119
Index: Midcap Market Index, CDAX, HDAX, Technology All Share, GEX,
ÖkoDAX
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing
Hamburg / regulated dealing
Stuttgart / regulated dealing
Düsseldorf / regulated dealing
München / regulated dealing