World's largest shipbuilder brings centrotherm photovoltaics on board:Hyundai Heavy Industries starts mass production in photovoltaics business
10.06.2008
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Blaubeuren, June 10, 2008 - centrotherm photovoltaics AG, the internationally
leading supplier of technology and services for the manufacturing of solar cells
and solar silicon, books a further business success in the promising future
market of Korea: Hyundai Heavy Industries Co. Ltd. has ordered five turnkey
production lines of 50 megawatt (MW) each to manufacture crystalline solar
cells. Robert Hartung, CEO of centrotherm photovoltaics commented: "It gives us
great pleasure to enable a further company to make a successful, industrial
entry into the photovoltaics market". The centrotherm photovoltaics AG, which is
based in Swabia in Germany, regards itself as a pioneer in photovoltaics, and to
this end is targeting its efforts at new markets and new customers. As is the
case with Hyundai Heavy Industries, increasing numbers of customers are coming
from other sectors." We are valued as a strategic partner, particularly by
companies from traditional branches of industry, and our many years of
experience - especially in the turnkey business - prove persuasive," Robert
Hartung emphasized. The order book position of centrotherm photovoltaics
currently amounts to EUR 712.9 million.
The five turnkey lines with an installed cell capacity totaling 250 MW are being
set up in the South Korean City of Eumesong, a site of Hyundai Heavy in the
Northwest of the country. They will be delivered in 2009. This order represents
an industrial entry into a new market for the world's largest shipbuilder. With
the size of the turnkey plant Hyundai Heavy is following a business trend
characterized by new players entering the market increasingly with large turnkey
plants as opposed to small lines. The Koreans' decision demonstrates that an
increasing number of groups identify potential in the solar sector, and that
European companies such as centrotherm photovoltaics are the technology partners
of choice.
South Korea is one of the largest photovoltaics growth markets. The country's
government has decided to press ahead with the expansion of photovoltaics as one
of the most important renewable energy sources. Research and development has
been supported since 2004. An installed cell capacity of 500 MW is anticipated
by the end of 2009.The focus is on process technologies that help to cut costs
and achieve greater reliability. This pleases Robert Hartung: "Crystalline solar
cells remains our strongest area. We are constantly researching improvements in
production processes and provide performance guarantees for our turnkey lines.
This has also convinced our Korean customers." All signs continue to point
towards further growth at centrotherm photovoltaics. The business in Asia, in
particular, is enjoying stellar growth, and meanwhile accounts for around 70% of
total revenue.
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. centrotherm
photovoltaics guarantees its customers important performance parameters such as
production capacity, degree of efficacy, and completion deadlines for turnkey
lines. The centrotherm photovoltaics Group currently employs 330 staff members
at its locations in Blaubeuren, Burghausen, Constance, and Dresden, and operates
globally in Europe, Asia, and the USA. The company achieved revenue in the last
financial year of EUR 166.2 million, EBIT of EUR 21.1 million, and is listed in
the TecDax of the Frankfurt Securities Exchange.
end of announcement euro adhoc
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ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
the content of this announcement.
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Blaubeuren, June 10, 2008 - centrotherm photovoltaics AG, the internationally
leading supplier of technology and services for the manufacturing of solar cells
and solar silicon, books a further business success in the promising future
market of Korea: Hyundai Heavy Industries Co. Ltd. has ordered five turnkey
production lines of 50 megawatt (MW) each to manufacture crystalline solar
cells. Robert Hartung, CEO of centrotherm photovoltaics commented: "It gives us
great pleasure to enable a further company to make a successful, industrial
entry into the photovoltaics market". The centrotherm photovoltaics AG, which is
based in Swabia in Germany, regards itself as a pioneer in photovoltaics, and to
this end is targeting its efforts at new markets and new customers. As is the
case with Hyundai Heavy Industries, increasing numbers of customers are coming
from other sectors." We are valued as a strategic partner, particularly by
companies from traditional branches of industry, and our many years of
experience - especially in the turnkey business - prove persuasive," Robert
Hartung emphasized. The order book position of centrotherm photovoltaics
currently amounts to EUR 712.9 million.
The five turnkey lines with an installed cell capacity totaling 250 MW are being
set up in the South Korean City of Eumesong, a site of Hyundai Heavy in the
Northwest of the country. They will be delivered in 2009. This order represents
an industrial entry into a new market for the world's largest shipbuilder. With
the size of the turnkey plant Hyundai Heavy is following a business trend
characterized by new players entering the market increasingly with large turnkey
plants as opposed to small lines. The Koreans' decision demonstrates that an
increasing number of groups identify potential in the solar sector, and that
European companies such as centrotherm photovoltaics are the technology partners
of choice.
South Korea is one of the largest photovoltaics growth markets. The country's
government has decided to press ahead with the expansion of photovoltaics as one
of the most important renewable energy sources. Research and development has
been supported since 2004. An installed cell capacity of 500 MW is anticipated
by the end of 2009.The focus is on process technologies that help to cut costs
and achieve greater reliability. This pleases Robert Hartung: "Crystalline solar
cells remains our strongest area. We are constantly researching improvements in
production processes and provide performance guarantees for our turnkey lines.
This has also convinced our Korean customers." All signs continue to point
towards further growth at centrotherm photovoltaics. The business in Asia, in
particular, is enjoying stellar growth, and meanwhile accounts for around 70% of
total revenue.
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. centrotherm
photovoltaics guarantees its customers important performance parameters such as
production capacity, degree of efficacy, and completion deadlines for turnkey
lines. The centrotherm photovoltaics Group currently employs 330 staff members
at its locations in Blaubeuren, Burghausen, Constance, and Dresden, and operates
globally in Europe, Asia, and the USA. The company achieved revenue in the last
financial year of EUR 166.2 million, EBIT of EUR 21.1 million, and is listed in
the TecDax of the Frankfurt Securities Exchange.
end of announcement euro adhoc
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