DGAP-News: systaic AG buys business operations of SOLARWATT Cells GmbH
08.10.2009
systaic AG / Acquisition
08.10.2009
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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* SYSTAIC acquires German high-tech solar cell production
* Considerable cost-saving potential, accompanied by exclusive access to
top-quality German-made cells.
Düsseldorf-based systaic AG, which specialises in integrated solar
solutions, is purchasing the business operations of SOLARWATT Cells GmbH,
Heilbronn. The company has a production capacity of 25 megawatts and
employs a workforce of 54. SYSTAIC thereby profits from more than 50 years
of experience in the manufacture of high-tech solar cells and exceptional
know-how for highly efficient mono- and multicrystalline cells. SOLARWATT
Cells is a wholly-owned subsidiary of SOLARWATT AG in Dresden.
With this acquisition SYSTAIC is securing itself a substantial
cost-reduction potential in the Automotive and Energy Roof Systems sectors,
together with reliability of supply and delivery of high-quality
German-made solar cells. According to the calculations of systaic AG the
purchase price - in the medium single-digit range of EUR million - for cell
production will be amortised within little over a year.
It was clearly demonstrated by the International Automobile Exhibition IAA
in Frankfurt 2009: The automotive market is currently experiencing a
paradigm shift to alternative, emission-free drive technologies accompanied
by a strong increase in electricity requirements. The company is convinced
that photovoltaic sliding roofs and complete solar roof solutions will soon
become standard equipment. They are also well-suited to retrofitting. To
satisfy the resulting high demand it will be crucial to secure supplies.
'In its solar system products systaic AG is not focusing on standard
modules and cells. It is a developer and manufacturer of specialised
integration solutions for photovoltaic products in buildings and vehicles,'
explains Michael Pack, CEO of systaic AG. 'For these applications we need
solar cells with very special qualities and the highest level of
efficiency. Photovoltaic cells with these specifications are not yet
available on the market at a reasonable price. SOLARWATT cells is one of
the few manufacturers worldwide to offer just the cell characteristics we
need in suitable formats.'
'Furthermore, the acquisition of the plant will enable SYSTAIC to cut its
own annual production costs by several million euros. We will thus be
making a major contribution to our profit situation. With a view to the
market environment, in-house production of these highly specific products
for dynamic growth markets is a wise step for systaic AG from a
technological and economic perspective,' says Michael Pack in conclusion.
www.systaic.com
About systaic
systaic AG specialises in efficient and aesthetically pleasing solar power
solutions: the core product is the SYSTAIC energy roof for generating
electricity and heat from solar energy on building rooftops. The SYSTAIC
Automotive business area is worldwide the only series manufacturer of solar
solutions for the roofs of different makes of car. The development and
installation of photovoltaic power plants also implemented by its
subsidiary Enerparc is a further focal point in its portfolio. systaic AG
was founded in November 2004 and it has been listed on the Frankfurt Stock
Exchange since March 2007. The company was admitted to the Prime Standard
segment in September 2008. Group turnover increased more than six-fold to
EUR 199 million in 2008. In the first half of 2009 the group revenue of
SYSTAIC stood at EUR 121 million, a 74% increase over the same period of
the previous year. The company currently employs a workforce of over 200.
Contact:
systaic AG
Achim Zolke (Head of Corporate Communications)
Kasernenstraße 27
40213 Düsseldorf
Germany
Phone: 0049-211-828559-0
Fax: 0049-211-828559-258
a.zolke@systaic.com
www.systaic.com
08.10.2009 Financial News transmitted by DGAP
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Language: English
Company: systaic AG
Kasernenstr. 27
40213 Düsseldorf
Deutschland
Phone: +49 (0)211 828559-0
Fax: +49 (0)211 828559-29
E-mail: ir@systaic.com
Internet: http://www.systaic.de
ISIN: DE000A0JKYP6
WKN: A0JKYP
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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systaic AG / Acquisition
08.10.2009
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
* SYSTAIC acquires German high-tech solar cell production
* Considerable cost-saving potential, accompanied by exclusive access to
top-quality German-made cells.
Düsseldorf-based systaic AG, which specialises in integrated solar
solutions, is purchasing the business operations of SOLARWATT Cells GmbH,
Heilbronn. The company has a production capacity of 25 megawatts and
employs a workforce of 54. SYSTAIC thereby profits from more than 50 years
of experience in the manufacture of high-tech solar cells and exceptional
know-how for highly efficient mono- and multicrystalline cells. SOLARWATT
Cells is a wholly-owned subsidiary of SOLARWATT AG in Dresden.
With this acquisition SYSTAIC is securing itself a substantial
cost-reduction potential in the Automotive and Energy Roof Systems sectors,
together with reliability of supply and delivery of high-quality
German-made solar cells. According to the calculations of systaic AG the
purchase price - in the medium single-digit range of EUR million - for cell
production will be amortised within little over a year.
It was clearly demonstrated by the International Automobile Exhibition IAA
in Frankfurt 2009: The automotive market is currently experiencing a
paradigm shift to alternative, emission-free drive technologies accompanied
by a strong increase in electricity requirements. The company is convinced
that photovoltaic sliding roofs and complete solar roof solutions will soon
become standard equipment. They are also well-suited to retrofitting. To
satisfy the resulting high demand it will be crucial to secure supplies.
'In its solar system products systaic AG is not focusing on standard
modules and cells. It is a developer and manufacturer of specialised
integration solutions for photovoltaic products in buildings and vehicles,'
explains Michael Pack, CEO of systaic AG. 'For these applications we need
solar cells with very special qualities and the highest level of
efficiency. Photovoltaic cells with these specifications are not yet
available on the market at a reasonable price. SOLARWATT cells is one of
the few manufacturers worldwide to offer just the cell characteristics we
need in suitable formats.'
'Furthermore, the acquisition of the plant will enable SYSTAIC to cut its
own annual production costs by several million euros. We will thus be
making a major contribution to our profit situation. With a view to the
market environment, in-house production of these highly specific products
for dynamic growth markets is a wise step for systaic AG from a
technological and economic perspective,' says Michael Pack in conclusion.
www.systaic.com
About systaic
systaic AG specialises in efficient and aesthetically pleasing solar power
solutions: the core product is the SYSTAIC energy roof for generating
electricity and heat from solar energy on building rooftops. The SYSTAIC
Automotive business area is worldwide the only series manufacturer of solar
solutions for the roofs of different makes of car. The development and
installation of photovoltaic power plants also implemented by its
subsidiary Enerparc is a further focal point in its portfolio. systaic AG
was founded in November 2004 and it has been listed on the Frankfurt Stock
Exchange since March 2007. The company was admitted to the Prime Standard
segment in September 2008. Group turnover increased more than six-fold to
EUR 199 million in 2008. In the first half of 2009 the group revenue of
SYSTAIC stood at EUR 121 million, a 74% increase over the same period of
the previous year. The company currently employs a workforce of over 200.
Contact:
systaic AG
Achim Zolke (Head of Corporate Communications)
Kasernenstraße 27
40213 Düsseldorf
Germany
Phone: 0049-211-828559-0
Fax: 0049-211-828559-258
a.zolke@systaic.com
www.systaic.com
08.10.2009 Financial News transmitted by DGAP
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Language: English
Company: systaic AG
Kasernenstr. 27
40213 Düsseldorf
Deutschland
Phone: +49 (0)211 828559-0
Fax: +49 (0)211 828559-29
E-mail: ir@systaic.com
Internet: http://www.systaic.de
ISIN: DE000A0JKYP6
WKN: A0JKYP
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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