DGAP-News: SolarWorld AG / Key word(s): Mergers &
Acquisitions/Miscellaneous
SolarWorld AG takes over Bosch solar manufacturing in Arnstadt
12.03.2014 / 13:16
---------------------------------------------------------------------
Europe's largest solar company increases cell production capacity by 700 MW
Today, SolarWorld AG will take over cell and module production from Bosch
Solar Energy in the Thuringian town of Arnstadt, Germany. As a result,
SolarWorld will increase its production capacity to over one gigawatt
throughout the entire value chain. This will make the company the largest
manufacturer of solar power technology outside of Asia. Dr.-Ing. E.h. Frank
Asbeck, the CEO of SolarWorld AG, says, "SolarWorld offers a counterpoint
to solar manufacturing in China. We rely on highly automated production
processes so that we can minimize failure rates and guarantee the highest
quality. The manufacturing capabilities of Bosch Solar Energy are a perfect
match for us and their quality standards are in keeping with our company's
values. The same applies for the high environmental and social standards we
hold ourselves to."
From a technological standpoint, SolarWorld is one of the leading players
in the global solar industry. By merging the resources of SolarWorld and
Bosch Solar Energy, the company intends to make a foray into the production
of high-efficiency modules in the 300 W plus power category. This category
translates into a 20 percent increase in power generation over the same
surface and will lead to significant cost savings. SolarWorld is already a
leader in using PERC cell technology to improve solar yields and will
deploy this technology in Arnstadt as well.
Taking over the Bosch solar manufacturing in Arnstadt has followed the
financial restructuring of the SolarWorld Group, which was just completed
late last month. SolarWorld thus becomes one of the few solar companies in
the world to regain solid financial footing.
At the beginning of 2013, Bosch announced its withdrawal from the
production of high-efficiency solar modules. Following a long and careful
selection process, SolarWorld stood out in its ability to offer Bosch a
sustainable industrial concept and long-term business strategy. SolarWorld
wants to make "Made in Germany" solar technology successful once again.
Around 800 Bosch employees in Arnstadt will now join SolarWorld. The
agreement reached between Bosch and SolarWorld ensures that the
manufacturing site in Arnstadt will continue to operate for many years to
come and that the jobs in the region will remain secure.
SolarWorld REAL VALUE: SolarWorld manufactures and sells solar power
solutions and in doing so contributes to a cleaner energy supply worldwide.
The group, headquartered in Bonn, Germany, employs approximately 3,200
people and carries out production in Freiberg, Germany; Arnstadt, Germany;
and Hillsboro, USA. From raw material silicon to solar wafers, cells and
modules, SolarWorld manages all stages of production â including its own
research and development. Through an international distribution network
with locations in Europe, USA, Singapore and South Africa, SolarWorld
supplies customers all over the world. The company maintains high social
standards at all locations across the globe, and has committed itself to
resource- and energy-efficient production. SolarWorld was founded in 1998
and has been publically traded on the stock market since 1999, where it is
noted in various indeces, including ÃkoDAX and Photon-Photovolaik
Aktienindex (PPVX). More information at www.solarworld.de/en
Contact:
SolarWorld AG
Martin-Luther-King-Str. 24
53175 Bonn/Germany
Tel.: +49 (0) 228/55920-409
E-Mail: presse@solarworld.de
Internet: www.solarworld.de
End of Corporate News
---------------------------------------------------------------------
12.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group 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: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE000A1YCMM2, DE000A1YDED6, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDED, A1YDDX, A1YCN1
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
257132 12.03.2014
DGAP-News: SolarWorld AG takes over Bosch solar manufacturing in Arnstadt
| Source: EQS Group AG