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
| Source: EQS Group AG