DGAP-News: CENTROTEC Sustainable AG / Key word(s): Acquisition CENTROTEC Sustainable AG: market entry in Africa through subscription to capital increase at Solar23 01.02.2011 / 07:29 --------------------------------------------------------------------- Brilon, February 01, 2011 - Ubbink B.V., Doesburg, The Netherlands, a wholly owned subsidiary of CENTROTEC Sustainable AG, Brilon, has acquired in January a 60 % stake in the Memmingen-based solar specialist Solar23 through the latter's capital increase of EUR 0.9 million. Solar23, founded in 2000, has 15 employees. Revenue of EUR 5 to 6 million is expected in 2011. The company is profitable. The company's strategic focus is on solar PV and solar thermal projects on the African continent, where Solar23 has a network in over 20 countries. Solar23 will be incorporated into the Ubbink Group and therefore into the Gas Flue Systems segment. Solar23's core skill is in the area of non-grid-connected solar systems, with its product range encompassing solar home systems, solar lighting systems, photovoltaic deep-well pumps for drinking water supply, power supplies for telecommunications systems and autonomous and grid-connected systems for village power supplies, as well as solar power plants. The company has realised a large number of projects in Africa in these areas in recent years. Through its current projects, it has built up an extensive network of partners in the principal African target markets, in some cases acquiring minority interests. On this basis, Solar23 provides an excellent springboard from which to tap into the growth markets for renewable energy and energy-saving systems in Africa, through the combination of German engineering and efficient, competitive local installation experts. The management will remain on board with its more than 15 years of experience in Africa and in handling projects; the company in addition has extensive expertise in solar thermal systems, enabling the expansion of the existing network with products from other CENTROTEC companies, such as solar thermal and biomass systems. Synergies with the solar module plant of Ubbink East Africa Ltd. which was established in 2010 and commenced operations in December 2010, will also be exploited. There is furthermore scope for giving the activities in Africa a major lift by exploiting the CENTROTEC Group's very good contacts with European non-governmental organisations. In Germany, Solar23 will be able to sell CENTROTEC's new, innovative energy roof thanks to its comprehensive expertise in PV and solar thermal systems. Gert-Jan Huisman, CEO of CENTROTEC Sustainable AG, remarked: 'The interest in Solar23 gives CENTROTEC an early foothold on the African continent. Africa, too, will witness the emergence of a growth market for energy saving and renewable energy over the next few years; we aim to address that demand with innovative energy-saving solutions, while at the same time taking serious social responsibility to preserve the earth's resources and promote sustainable development.' CENTROTEC Sustainable AG CENTROTEC Sustainable AG and its subsidiaries enjoy a presence in over 50 different countries. The principal group companies are Wolf Heiztechnik, Brink Climate Systems and Ned Air in the Climate Systems segment, which have specialised in heating, climate control and ventilation technology e.g. in the form of solar thermal systems, heat pumps, CHP units, climate control and ventilation systems with heat recovery for residential and commercial buildings, as well as Ubbink and Centrotherm, which have focused on plastic gas flue and air ducting systems and solar system components in the Gas Flue Systems segment. CENTROTEC is consequently Europe's only listed full-service provider of solar thermal systems and energy-saving solutions for buildings. Ubbink Group The Ubbink Group with its corporate headquarters in the Netherlands provides innovative solutions and technologies to increase the energy efficiency of buildings and improve their indoor climate. Besides gas flue systems, Ubbink manufactures products for air and water tightness, room ventilation, solar components and systems in Europe and around the world. CENTROTEC Sustainable AG, Am Patbergschen Dorn 9, D-59929 Brilon, Germany ISIN: DE0005407506, WKN: 540750, home stock exchange: Frankfurt am Main Indices: SDAX, DAXplus Family, Prime All Share, Prime Industrial For further information, contact: CENTROTEC Sustainable AG, Dr Frank Rose, Tel: +49 (0)2961 96631-104 or MetaCom Corporate Communications GmbH, Georg Biekehör, Tel: +49 (0) 6181 98280-30 End of Corporate News --------------------------------------------------------------------- 01.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: CENTROTEC Sustainable AG Am Patbergschen Dorn 9 59929 Brilon Deutschland Phone: +49 (0)2961 96631-0 Fax: +49 (0)2961 96631-100 E-mail: ir@centrotec.de Internet: www.centrotec.de ISIN: DE0005407506 WKN: 540750 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 110633 01.02.2011
DGAP-News: CENTROTEC Sustainable AG: market entry in Africa through subscription to capital increase at Solar23
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