SolarWorld AG / Miscellaneous 08.02.2008 Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Production Site in South Korea to Go Live in 2009 SolarWorld AG is implementing its plans to build up a solar production facility in Asia and has signed an agreement with SolarPark Engineering Co. Ltd. in Seoul for the establishment of a module production facility in South Korea. In October the project was preceded by the signing of a Letter of Intent. Part and parcel of this agreement is the foundation of SolarWorld Korea Ltd. as a joint venture in which the partners will each hold a share of 50 per cent. SolarWorld Korea will complete the module factory until the end of the year. The opening of the first SolarWorld AG production facility in Asia can be expected in 2009. The module production will initially have a capacity of 120 Megawatt (MW) that can later be doubled to 240 MW. In addition, the partners keep the option open of establishing a cell production process at the same location. 'With our first Asian solar module production we are responding to the increasing solar demand in the growth markets of Asia', says Dipl.-Ing. Frank H. Asbeck, Chairman and CEO of SolarWorld AG. 'Especially in Korea and Japan we are expecting a rapidly rising demand for modern solar power technology'. In 2012 South Korea alone is predicted to have a market volume of 800 MW (2007: 50 MW). For Japan the expectation is also 800 MW. About SolarWorld AG: The SolarWorld Group (ISIN: DE0005108401) is among the top trio of the solar power industry worldwide. The group is dedicated exclusively to the core business of solar energy, combining all stages of the solar value chain, from the raw material silicon to turn-key solar power plants. The company operates production facilities in Germany and the USA. In California the largest production site in the USA for solar modules and in Oregon the largest production site in the USA for solar wafers and cells are being created. In Freiberg in Saxony the group operates one of the worlds most advanced integrated solar production facilities. Among the currently most important sales markets are Germany, the USA and in the rest of Europe especially Spain. Sales offices in Germany, Spain, California, South Africa and Singapore service the international solar markets. In addition to on-grid solar power products the group increasingly distributes rural solar power solutions internationally that can make an important contribution to the sustainable economic development of rural regions. After the IPO at the end of 1999, the company developed within a few years into one of the largest fully integrated solar technology groups. At the end of the third quarter of 2007 some 1,969 people were working for the group. At the stock exchange SolarWorld AG is listed among others in the technology index TecDAX, in the Öko-DAX, in the Dow Jones STOXX 600, in the international MSCI Index as well as in the sustainability indices DAXglobal Alternative Energy and NAI. Over and above this SolarWorld AG is getting involved at the social policy level in order to push ahead the principle of sustainability and to sharpen public awareness of resource and climate protection. Moreover, SolarWorld is involved at the sociopolitical level in order to further the sustainability notion and raise awareness for climate and resources protection. Contact: SolarWorld AG Investor Relations / Marketing Communications, Tel.-No.: +49 228 55920 -470; Fax-No.: +49 228 55920-9470, E-mail: placement@solarworld.de Internet: www.solarworld.de DGAP 08.02.2008 --------------------------------------------------------------------------- Language: English Issuer: SolarWorld AG Kurt-Schumacher-Straße 12-14 53113 Bonn Deutschland Phone: +49 (0)228 - 559 20 470 Fax: +49 (0)228 - 559 20 99 E-mail: placement@solarworld.de Internet: www.solarworld.de ISIN: DE0005108401 WKN: 510840 Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf; Freiverkehr in Berlin, München, Hamburg, Stuttgart; Terminbörse EUREX End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: SolarWorld AG Implements Module Production in Asia
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