SolarWorld AG / Miscellaneous
17.10.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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German Company Creates 1,000 New Jobs in Oregon
SolarWorld AG is opening the largest solar cell production facility in the
USA today. In Hillsboro, Oregon, the German company is investing 500
million US dollars in highly advanced technology. In an integrated
manufacturing process wafer-thin silicon discs, the so-called solar wafers,
as well as solar cells will be produced with an initial capacity of 100
Megawatt (MW) annually. At their final destination on the roof or in a
larger power plant this equates to the electricity requirements of
100,000 people. The company announced that the capacity will be expanded to
500 Megawatt in the next three years.
In the USA the demand for clean and non-imported energy is massively
increasing. This growth is also continuing against the current downward
trend of the US economy. Frank H. Asbeck, Chairman and CEO of SolarWorld
AG: 'In 2009 we are expecting the market to more than double to about 1,000
Megawatt.' In this context solar energy will also clearly win the day
against the current trend in the US economy. Asbeck: 'There is no safer
investment than that into solar energy. For the house owner it means that
with the power generation on his own roof or plot of land he can render
himself independent of the rising electricity prices. For us as a company
it means that we can further expand our position of leadership in the world
in this important technology of the future.'
The investment at the Hillsboro location will create 1,000 new jobs by the
year 2011. 250 people have already been employed for the start of
production today. 'We are seeing an extraordinary enthusiasm for solar
energy and for our company here in Oregon', says Asbeck. At todays opening
ceremony the State of Oregon will be represented by Governor Ted
Kulongoski.
SolarWorld AG with its headquarters in Bonn/Germany has been the major
solar technology producer on the American continent since taking over the
solar activities of the Shell oil company. In addition to the new site in
Oregon the group also operates a manufacturing facility for solar modules
in Camarillo, California. The main manufacturing site of the company
continues to be Freiberg in Saxony/Germany. Currently a new production
facility for solar wafers is being built here at a cost of 350 million euro
with the objective of doubling the existing production capacity to 1,000
Megawatt. For the Asian region SolarWorld is building a module factory in
South Korea that will start production by the end of the year.
About SolarWorld AG: The SolarWorld AG group of companies (ISIN:
DE0005108401) is a world leader in high quality solar power technology. The
company is involved at all levels of the solar value chain and combines all
activities of the industry from silicon as the raw material to turn-key
solar power system. SolarWorld AG is represented in all international solar
growth markets. The group is exclusively dedicated to its core business of
photovoltaic power generation, operating production facilities in Germany
and the USA. They in turn supply the SolarWorld AG sales offices in
Germany, Spain, USA, South Africa and Singapore. In South Korea SolarWorld
AG is currently building up a solar module production facility in order to
be able to serve the growing demand in Asia on the spot in the future. A
central element of the business in addition to the sale of turn-key solar
systems and solar modules to retailers is the distribution of solar silicon
wafers to the international solar cell industry. Apart from grid-coupled
(on-grid) products the SolarWorld Group also sells off-grid solar power
solutions that make an important contribution to the sustainable economic
development of threshold and developing countries. Under the roof
Solar2World the group has pooled its ethical commitment to solar power
especially in developing countries.
SolarWorld AG employs 2,095 people worldwide. The company is listed at the
stock exchange in the technology index TecDAX, in the ÖkoDAX, in the Dow
Jones STOXX 600, in the international MSCI Index as well as in the
sustainability indices DAXglobal Alternative Energy and NAI.
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 17.10.2008
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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
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DGAP-News: SolarWorld Opens Largest Solar Production Facility in the USA
| Source: EQS Group AG