Corporate | 15 February 2013 18:44
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Mutares AG / Key word(s): Acquisition
Wangen/Munich, 15 th of February 2013. Diehl Controls, Wangen im Allgäu, subgroup of Diehl Group, Nuremberg, sells the business unit photovoltaics with effect from 1 st of April 2013 to mutares Solar GmbH, a 100% subsidiary of mutares AG, Munich. mutares AG will strategically develop the photovoltaics business located in Wangen. All 82 employees will be taken over by the new owner. The manufacturing of the photovoltaics products remains with Diehl Controls. The business areas Appliance and Smart Home are not affected by this transaction. Diehl Controls refocuses with this transaction on its core competencies in the OEM (Original Equipment Manufacturers) business.
In 2005, Diehl Controls entered the pholtovoltaics business with the development and manufacturing of solar inverters as well as the related communication equipment branded Platinum. The brand Platinum reached Sales of EUR 50m in 2012. Diehl Controls transfers its photovoltaics activities to a competent partner as part of a corporate refocusing program. Strong partner 'Since mid-2012 we've been searching intensively for a partner, who can strategically develop the photovoltaics business and has a strong sales expertise', explains Dieter Neugebauer, member of the Corporate Division Board of Diehl Controls. 'After constructive negotiations we are glad to have won mutares AG as a partner that is interested in a successful expansion of this business unit and that will further develop the photovoltaics activities at this location. Particularly the technologically outstanding products together with the highly qualified and motivated employees are very important for mutares. Dr. Axel Geuer, Executive and founder of mutares AG, evaluates the potential of the photovoltaics business positively: 'The brand Platinum is well established in the market, the new product range R3 has great potential and has received positive customer feedback shortly after its introduction to the market. This is an important basis to develop the business towards long term profitability. However, in this know-how driven business the employees remain the most important potential for growth. Their creative ideas and designs will be a competitive advantage in the market.' The collaboration in the photovoltaics business is not the first joint project of mutares AG and Diehl Group. In 2009 mutares AG acquired Diehl Elastomertechnik GmbH; the now called Elastomer Solutions Group has been growing continuously over the past years. Latest figures show a sales increase of +35 % versus 2009; also the number of employee has grown significantly. Location Wangen assured The new owner takes over all 82 employees with their existing employment contracts. 'The people are our source of know-how. We can only be successful together with them', emphasizes Dr. Wolf Cornelius, who will run the new company together with its established CEO, Klaus Frehner. There is a clear commitment to the location of the company in Wangen im Allgäu: 'Wangen is competitive for the production of inverters!' Dr. Cornelius assures. On this basis, mutares Solar GmbH signed a long-term contract with Diehl Controls regarding the utilization of the production facility. The business areas Appliance and Smart Home will not be affected by the transaction. 'In the area of Appliance we are one of the market leaders worldwide and in the Smart Home sector we are working on interesting projects with a very promising future ', says Diehl Controls member of Corporate Division Board Dieter Neugebauer. 'In some of these projects we will work closely together with mutares, for instance in the area of intelligent solutions for private energy consumption.' Diehl Controls Diehl Controls is a leading specialist worldwide for the design and production of control systems. Under its brand Diehl AKO(R) the company supplies electronic components and systems to the international household appliance industry. With its Smart Home activities Diehl Controls focuses on highly innovative products for the future energy management market. mutares mutares AG, Munich ( www.mutares.de ), acquires midsized companies in whole and in part, which are sold as a result of a repositioning process at their owners and which exhibit a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to generate a significant value increase. The focus of the operational work is to ensure sustainable, long-term growth. The stocks of mutares AG are listed at the Open Market segment of the Frankfurt stock exchange (symbol: MUX, ISIN: DE000A0SMSH2). For further information, we gladly receive your request at:
mutares AG
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