Solar-Fabrik AG

euro adhoc: Solar-Fabrik AG
Mergers - Acquisitions - Takeovers
Entering of Solar-Fabrik AG into solar cell production is perfect!

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Today, the entering of Solar-Fabrik AG (ISIN: DE0006614712) into solar cell production is perfect. Solar-Fabrik AG holds 33 1/3 % of the shares of Solar Energy Power Pte. Ltd., Singapore, (shortly: "SEP") via its newly founded 100% subsidiary Solar-Fabrik Services Pte Ltd. of Singapore.

In the following we briefly reflect the major subject terms of the contract. Details given in the Letter of Intent from the 12th May of 2006 have been realized consequentially: In mid-2005, SEP was founded in Singapore by Dr. Freddy Goh with a cell production capacity of 10 MW; it began production in March of 2006. By the end of 2007, capacity is to be expanded to 25 MW. Solar-Fabrik will supply SEP with wafers via the Group's subsidiary Global Expertise Wafer Division Ltd.

Some 2.5 million EUR was agreed as the purchase price for 33 1/3% of the shares of SEP (including investments in capacity expansion). Furthermore, Solar-Fabrik Services will hold majority of shares in SEP by 12/31/2007 at the latest and will hold 90 % of the shares of SEP. Because of existing IFRS rules SEP will already be fully consolidated in 2006.

Solar-Fabrik will benefit from this holding in several ways:

• Profit margins will improve as the state-of-the-art solar cell production process both increases the efficiency of the cells and reduces the reject rate.  • All of the solar cells that SEP manufactures to fulfill the quality requirements of Solar-Fabrik AG will flow into Solar-Fabrik's production process.

This takeover will already contribute approximately an additional 500,000 EUR to Solar-Fabrik AG's profit in 2006.

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ots Originaltext: Solar-Fabrik AG
Im Internet recherchierbar:

Further inquiry note:
Martin Schlenk
Tel. +49(0)761 4000 207

Branche: Alternative energy
ISIN:      DE0006614712
WKN:        661471
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              Börse Berlin-Bremen / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade

Weitere Meldungen: Solar-Fabrik AG

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