Tous Actualités
Suivre
Abonner Solar-Fabrik AG

Solar-Fabrik AG

euro adhoc: Solar-Fabrik AG
Mergers - Acquisitions - Takeovers
Solar-Fabrik AG enters into solar cell production Letter of intent (LOI) signed for holdings in Solar Energy Power Pte Ltd.

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
12.05.2006
Today, Solar-Fabrik AG (ISIN: DE0006614712) has signed an LOI for a
holding in Solar Energy Power Pte Ltd. (SEP) of Singapore. Once the
purchase agreement has been fulfilled, which is scheduled for June
30, 2006 at the latest, Solar-Fabrik AG will hold 33 1/3 % of the
shares of SEP via its newly founded 100% subsidiary company Services
Pte Ltd. of Singapore. Solar-Fabrik AG is expanding its value chain
to include solar cell production, thus becoming an integrated solar
corporation as planned.
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. SEP also has its own supplies of
raw materials.
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). Once
the purchase agreement has been signed, Dr. Freddy Goh, the new CTO
at Solar-Fabrik AG, and Solar-Fabrik Services Pte Ltd. will become
new shareholders in SEP, each with 33 1/3% of the shares.
Furthermore, the parties agree that Solar-Fabrik Services will hold
majority of shares in SEP by 12/31/2007 at the latest.
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. • No later than
12/31/2007, Solar-Fabrik Services will have a majority of the shares
of SEP and fully consolidate the value chain.
This takeover will already contribute approximately an additional
500,000 EUR to Solar-Fabrik AG's profit in 2006.
With the holding in SEP, Solar-Fabrik AG has come significantly
closer to its consistently pursued goal of covering all links in the
value chain of solar power production in-house. Dr. Freddy Goh, the
new CTO at Solar-Fabrik AG, is using his expertise to step up the
technical (further) development of the integrated solar corporation.
end of announcement                               euro adhoc 12.05.2006 08:37:09

Further inquiry note:

Martin Schlenk
Tel. +49(0)761 4000 207
E-Mail: m.schlenk@solar-fabrik.de

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

Plus de actualités: Solar-Fabrik AG
Plus de actualités: Solar-Fabrik AG