DGAP-News: Italian Phoenix Solar subsidiary RED 2002 srl to be renamed Phoenix Solar

 | Source: EQS Group AG EQS Group AG 

Phoenix Solar Aktiengesellschaft / Miscellaneous

18.12.2008 

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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- Consolidating the Phoenix Solar brand

Sulzemoos/Rome 18 December, 2008 / Renewable Energies Development 2002 srl
(RED 2002), the Italian subsidiary of Phoenix Solar AG, is to be renamed
Phoenix Solar srl effective 1 January, 2009. In taking this step, the
parent company is not only consolidating the Phoenix Solar brand: its
subsidiary in Italy will also derive sustained, long-term benefits from the
know-how and brand awareness of a solar energy enterprise active on the
international stage.

Phoenix Solar AG is one of the world’s leading photovoltaic (PV) system
suppliers with a highly efficient European distribution network as well as
outstanding in-depth expertise in the construction of solar power plants up
to and including the multi-megawatt range. The company is based in
Sulzemoos, near Munich, and has subsidiaries in Italy, Spain, Greece,
Singapore and Australia. After first acquiring a strategic interest in RED
2002 in 2006, in July 2008 Phoenix Solar increased its stake to 100
percent. The change of name effective 1 January is the logical next step in
the company’s world-wide internationalisation and branding strategy.
Phoenix Solar aims to operate globally under a single brand.

'We see huge potential in the Italian PV market. Together with our Italian
colleagues we aim to grow substantially in Italy and expand our market
share accordingly', explained Dr. Andreas Hänel, CEO of Phoenix Solar AG.

'RED’s knowledge of the Italian market and Phoenix Solar’s competence and
experience complement one another perfectly', added RED 2002 General
Manager Domenico Inglieri. 'Our highly motivated team is looking forward to
shaping Italy’s solar future as a part of the international Phoenix Solar
Group'.


About Phoenix Solar AG
Phoenix Solar AG, which has its headquarters in Sulzemoos near Munich, is a
leading international photovoltaic systems integrator. Until June 2007, the
company, which was set up in 1999, went by the name of Phönix SonnenStrom
AG. With total revenues of EUR 260 million, the Group's EBIT came to EUR
22.3 million in the financial year 2007. The Phoenix Solar Group
anticipates sales of EUR 380 million, generated in Germany and abroad, for
the financial year 2008. Phoenix Solar AG plans, builds and undertakes the
operation of large photovoltaic plants and is a specialist wholesaler for
complete power plants, solar modules and accessories. The Group is a leader
in photovoltaic systems technology. It focuses on the consistent lowering
of system costs. With a sales network which covers the whole of Germany,
and subsidiaries in Spain, Italy, Greece, Singapore and Australia, the
Group currently has a workforce of more than 210 employees. The shares of
Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the official market
(Prime Standard) of the Frankfurt Stock Exchange. The shares of the company
were admitted to the TecDAX technology index of Deutsche Börse AG on 25
March 2008.

Contact:
Phoenix Solar AG
Anka Leiner
Investor Relations
Hirschbergstraße 8
D-85254 Sulzemoos

Tel. +49 (0) 8135 938-315
Fax: +49 (0) 8135 938-399
a.leiner@phoenixsolar.de
www.phoenixsolar.de

Amtsgericht München HRB 129117 
Ust-ID Nr. DE 812868419 



DGAP 18.12.2008 
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Language:     English
Issuer:       Phoenix Solar Aktiengesellschaft
              Hirschbergstraße 8   85254 Sulzemoos
              Deutschland
Phone:        +49 (0)8135-938-000
Fax:          +49 (0)8135-938-099
E-mail:       kontakt@phoenixsolar.de
Internet:     http://www.phoenixsolar.de
ISIN:         DE000A0BVU93
WKN:          A0BVU9
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Hannover, Hamburg, Düsseldorf, München, Stuttgart
End of News                                     DGAP News-Service
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