Corporate | 14 June 2011 15:44
|
SMA Solar Technology AG / Key word(s): Acquisition
SMA Solar Technology AG – Press Release SMA Solar Technology AG solidifies position as technology leader with acquisition of dtw Sp.z o.o. Niestetal, Germany/Zabierzów, Poland, June 14, 2011 – SMA Solar Technology AG (SMA/FWB: S92) signed a purchase agreement to acquire dtw Sp.z o.o., one of Poland’s largest manufacturers of electromagnetic components, in Krakow today. The transaction is expected to be closed in July 2011 under the usual reserves. In acquiring one of its long-time suppliers, SMA is securing its position as a technology leader in the area of solar inverters. dtw specializes in making technologically innovative core components for manufacturing inverters, such as inductors, coils and toroidal transformers. ‘The acquisition of dtw is an important strategic step in expanding the technology leadership of SMA,’ explains CEO Pierre-Pascal Urbon. ‘It allows us to more effectively coordinate the development processes of mechanics, electromagnetic components and power electronics while also significantly reducing development times. The acquisition provides a great way to further distinguish ourselves from competitors in the future.’ dtw and SMA have been close business partners for about 10 years now. As one of the main suppliers of electronic components, dtw has always succeeded in facilitating the technological development of SMA with components of extraordinary quality and setting new technological standards. Within the SMA Group, dtw will operate as an independent subsidiary and global competence center for electromagnetic components. ‘We have worked on building and expanding dtw with great passion over the years. Our acquisition by SMA will help ensure a stable future for the company. We are very happy that our management board stands in full support of the transaction and will play a major role in the continuing development of dtw,’ says company founder Stefan Domagała. ‘With SMA as an internationally established partner at our side, we will be able to expand our successful business on a global scale.’ Stefan Domagała will continue to drive the research and development efforts of dtw and work in close cooperation with SMA developers. A number of development projects will focus on magnetic materials that are based on new types of alloys and high-frequency transformers that are optimized for high performance and low weight. Wife and co-founder Izabella Domagała will assist the integration of dtw and SMA in an advisory role. ‘Stefan and Izabella Domagała have built a great company with highly-motivated employees,’ adds Pierre-Pascal Urbon. ‘We are very much looking forward to working together even closer with this outstanding team.’ SMA will continue the complex manufacturing of electromagnetic components in the modern production facilities of dtw in Zabierzów. The SMA inverter production will stay exclusively at its headquarters in Niestetal/Kassel as well as at its international sites in Denver, Colorado, and Ontario, Canada, for the North American market. SMA is planning a number of smaller acquisitions with the goal of optimizing the value and supply chain and advancing its position as a technology leader in the future.
About dtw Sp.z o.o.
About SMA
SMA Solar Technology AG
Head of Corporate Communications:
Press contact:
Investor Relations:
Julia Damm
Disclaimer: This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the ‘Company’) or any present or future subsidiary of the Company (together with the Company, the ‘SMA Group’) nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the executive board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
End of Corporate News 14.06.2011 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: | SMA Solar Technology AG | |
| Sonnenallee 1 | ||
| 34266 Niestetal | ||
| Deutschland | ||
| Phone: | +49 (0)561 / 9522 – 0 | |
| Fax: | +49 (0)561 / 9522 – 100 | |
| E-mail: | info@sma.de | |
| Internet: | http://www.sma.de | |
| ISIN: | DE000A0DJ6J9 | |
| WKN: | A0DJ6J | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
|
|
| 128455 14.06.2011 |