euro adhoc: other / centrotherm photovoltaics acquires 100 percent of GP Solar
29.04.2008
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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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29.04.2008
* Remaining 25.2 percent of subsidiary acquired
* Dr. Peter Fath appointed CTO
* Expansion of technology expertise
Blaubeuren, April 29, 2008 - Today, the management and supervisory boards of
centrotherm photovoltaics AG signed an agreement to acquire the entirety of GP
Solar GmbH. The company, which is based in Constance, provides products,
consultancy services, and technology for photovoltaics with a focus on quality
control and process technology for the manufacturing of solar cells and solar
modules. GP Solar currently employs a workforce of over 70 members of staff. The
purchase price is subject to a confidentiality agreement.
The acquisition enables centrotherm photovoltaics to take an important step
forward in its strategy of expanding its solar silicon division, and in the
simplification of the Group structure: the acquisition of the remaining 25.2
percent of GP Solar now means the company holds larger indirect stakes in SOLMIC
GmbH and centrotherm SiQ GmbH. Both companies are important partners in the
solar silicon area.
centrotherm photovoltaics already holds 74.8 percent of GP Solar. The founder
and Managing Director of GP Solar, Dr. Peter Fath (40), held the remaining
percents. He will strengthen the Management Board team of centrotherm
photovoltaics AG from May 1, in his role as Chief Technology Officer (CTO). To
date, the Management Board has consisted of three members. Dr. Fath, who holds a
doctorate in physics, will be responsible for the newly created Management Board
area of Overall Technology, Research & Development, and Group Marketing. His
initial focus will be on further expanding the company´s technology expertise in
the areas of crystalline solar cells, thin-film technology, and solar silicon.
Dr. Fath will also be responsible for developing and implementing the marketing
strategy across the centrotherm Group. In addition, Dr. Peter Fath will be
active as Managing Director of centrotherm Photovoltaics Technology GmbH.
=--- - End of the ad hoc announcement -
Dr. Peter Fath, who is a native of Baden-Württemberg, has to date been active as
Managing Director of GP Solar GmbH. Dr. Fath founded GP Solar in Constance in
1999. He also founded SOLMIC GmbH together with a partner in 2005. SOLMIC GmbH
is based in Burghausen. Dr. Fath is still a member of the management of SOLMIC
GmbH. Before founding SOLMIC and GP Solar, Dr. Fath was responsible for research
and development at Sunways AG. Dr Fath looks back on a 17-year career in
photovoltaics in the areas of R&D, engineering, technology transfer, and
consulting, accompanied by over 170 publications and numerous patents. He has
been awarded several national and international prizes for his work.
"The appointment of Dr Faith appropriately strengthens our Management Board
team, with the aim of further expanding our technology expertise and anchoring
our fine-tuned Group-wide marketing strategy in a target group focused manner,"
commented Robert Hartung, Spokesperson for the Management Board of centrotherm
photovoltaics AG. "This is a particularly important area since our international
customer base is expanding continuously, and, besides suppliers from various
sectors, increasingly also includes energy supply companies and capital
investors. We always keep one objective in sight in this respect - namely our
aim to use our technology expertise to enable our customers to significantly
reduce their production costs, and consequently achieve decisive competitive
advantages."
About centrotherm photovoltaics AG
centrotherm photovoltaics AG is an internationally leading provider of
technology and services for the production of solar cells and solar silicon. The
broad product spectrum comprises key equipment and turnkey production lines for
crystalline and thin-film solar cells. The product range is supplemented by
reactors and converters for the manufacturing of solar silicon. Business
operations currently focus on the growth market of Asia. The international
customer base includes well-known companies from the solar sector. The company,
which is based in Blaubeuren near Ulm, currently has over 320 employees.
end of announcement euro adhoc
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=-------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
=-------------------------------------------------------------------------------
29.04.2008
* Remaining 25.2 percent of subsidiary acquired
* Dr. Peter Fath appointed CTO
* Expansion of technology expertise
Blaubeuren, April 29, 2008 - Today, the management and supervisory boards of
centrotherm photovoltaics AG signed an agreement to acquire the entirety of GP
Solar GmbH. The company, which is based in Constance, provides products,
consultancy services, and technology for photovoltaics with a focus on quality
control and process technology for the manufacturing of solar cells and solar
modules. GP Solar currently employs a workforce of over 70 members of staff. The
purchase price is subject to a confidentiality agreement.
The acquisition enables centrotherm photovoltaics to take an important step
forward in its strategy of expanding its solar silicon division, and in the
simplification of the Group structure: the acquisition of the remaining 25.2
percent of GP Solar now means the company holds larger indirect stakes in SOLMIC
GmbH and centrotherm SiQ GmbH. Both companies are important partners in the
solar silicon area.
centrotherm photovoltaics already holds 74.8 percent of GP Solar. The founder
and Managing Director of GP Solar, Dr. Peter Fath (40), held the remaining
percents. He will strengthen the Management Board team of centrotherm
photovoltaics AG from May 1, in his role as Chief Technology Officer (CTO). To
date, the Management Board has consisted of three members. Dr. Fath, who holds a
doctorate in physics, will be responsible for the newly created Management Board
area of Overall Technology, Research & Development, and Group Marketing. His
initial focus will be on further expanding the company´s technology expertise in
the areas of crystalline solar cells, thin-film technology, and solar silicon.
Dr. Fath will also be responsible for developing and implementing the marketing
strategy across the centrotherm Group. In addition, Dr. Peter Fath will be
active as Managing Director of centrotherm Photovoltaics Technology GmbH.
=--- - End of the ad hoc announcement -
Dr. Peter Fath, who is a native of Baden-Württemberg, has to date been active as
Managing Director of GP Solar GmbH. Dr. Fath founded GP Solar in Constance in
1999. He also founded SOLMIC GmbH together with a partner in 2005. SOLMIC GmbH
is based in Burghausen. Dr. Fath is still a member of the management of SOLMIC
GmbH. Before founding SOLMIC and GP Solar, Dr. Fath was responsible for research
and development at Sunways AG. Dr Fath looks back on a 17-year career in
photovoltaics in the areas of R&D, engineering, technology transfer, and
consulting, accompanied by over 170 publications and numerous patents. He has
been awarded several national and international prizes for his work.
"The appointment of Dr Faith appropriately strengthens our Management Board
team, with the aim of further expanding our technology expertise and anchoring
our fine-tuned Group-wide marketing strategy in a target group focused manner,"
commented Robert Hartung, Spokesperson for the Management Board of centrotherm
photovoltaics AG. "This is a particularly important area since our international
customer base is expanding continuously, and, besides suppliers from various
sectors, increasingly also includes energy supply companies and capital
investors. We always keep one objective in sight in this respect - namely our
aim to use our technology expertise to enable our customers to significantly
reduce their production costs, and consequently achieve decisive competitive
advantages."
About centrotherm photovoltaics AG
centrotherm photovoltaics AG is an internationally leading provider of
technology and services for the production of solar cells and solar silicon. The
broad product spectrum comprises key equipment and turnkey production lines for
crystalline and thin-film solar cells. The product range is supplemented by
reactors and converters for the manufacturing of solar silicon. Business
operations currently focus on the growth market of Asia. The international
customer base includes well-known companies from the solar sector. The company,
which is based in Blaubeuren near Ulm, currently has over 320 employees.
end of announcement euro adhoc
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