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
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.
– End of the ad hoc release –
About centrotherm photovoltaics AG
centrotherm photovoltaics AG, which is based at Blaubeuren, is one of the world's leading technology and service-providers for the manufacturing 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. centrotherm photovoltaics guarantees its customers important performance parameters such as production capacity, degree of efficacy, and completion deadlines for turnkey lines. The centrotherm photovoltaics Group currently employs 330 staff members at its locations in Blaubeuren, Burghausen, Constance, and Dresden, and operates globally in Europe, Asia, and the USA. The company achieved revenue in the financial year 2007 of EUR 166.2 million, EBIT of EUR 21.1 million, and is listed in the TecDax of the Frankfurt Stock Exchange.
centrotherm photovoltaics AG
Listing: Regulated Market/Prime Standard, Frankfurt Securities Exchange
Registered Office: Germany
Senior Manager Investor Relations
T +49 7344 918-8890