Corporate | 1 August 2011 18:09
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SMA Solar Technology AG / Key word(s): Acquisition
SMA Solar Technology AG – Press Release SMA Solar Technology AG closes acquisition of dtw Sp.z o.o. Niestetal, Germany/Zabierzów, Poland, August 1, 2011 – SMA Solar Technology AG (SMA/FWB: S92) has closed its acquisition of dtw Sp.z o.o. today. dtw Sp.z o.o., located in Poland, is one of the leading manufacturers of technologically innovative core components for the inverter production. Within the SMA Group, dtw will operate as an independent subsidiary and global competence center for electromagnetic components. In acquiring one of its long-time suppliers, SMA is securing its position as a technology leader in the area of solar inverters. The purchase agreement for the acquisition of dtw Sp.z o.o. was signed on June 14, 2011subject to the approval of the Federal Cartel Authority and the Supervisoray Board of SMA. The approval of the Federal Cartel Authority was given on July 13, 2011 and Günther Cramer, Chairman of the Supervisory Board, declared the unanimous consent of the Supervisory Board on July 28, 2010. This means that the acquisition may be closed as per January 1, 2011. For 2011, the Managing Board of SMA expects a positive contribution of the transaction to operating income of EUR 20 to 25 million. ‘SMA and dtw are connected through an extraordinary quality standard and an intensive research and development work,’ explains SMA CEO Pierre-Pascal Urbon. ‘The integration of our new subsidiary allows us to more effectively coordinate development processes, while also significantly reducing development times. This provides a great way to further distinguish ourselves from competitors in the future.’ The dtw management board will play a major role in the continuing development of SMA’s new subsidiary. Company founder 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.
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.
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 01.08.2011 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 | ||
| Germany | ||
| 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 |
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| 133907 01.08.2011 |