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Abonner centrotherm photovoltaics AG

centrotherm photovoltaics AG

centrotherm photovoltaics acquires solar silicon specialist SolMic

Blaubeuren (euro adhoc) -

Expertise for fully integrated factories entirely under one roof
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
merger, acquisition and takeover
centrotherm photovoltaics acquires solar
silicon specialist SolMic: Expertise for fully integrated factories 
entirely under one roof
- Expansion of the high-growth solar silicon division - Consistent 
implementation of Group strategy - Plan to integrate centrotherm 
Thermal Solutions by increasing non-cash capital
Blaubeuren, August 22, 2008 - centrotherm photovoltaics AG, 
Blaubeuren, is consistently pursuing its strategy of integrating key 
equipment and technology into the Group. The aim is to further expand
technology leadership along the solar value-creation chain. The 
Management Board, with the agreement of the Supervisory Board, has 
today signed an agreement relating to the complete takeover of SolMic
GmbH, Burghausen. SolMic is a specialist for technology and 
engineering services revolving around design and process-optimization
for the production of polysilicon, ingot and wafers. The complete 
acquisition of this important company for its solar silicon division 
allows centrotherm photovoltaics to combine technology and plant 
engineering. It allows the company to completely combine its 
expertise for fully integrated factories under one roof.
centrotherm photovoltaics has so far held 50 percent of SolMic via 
its subsidiary GP Solar GmbH. Managing director Dr. Albrecht Mozer 
held the remaining shares. SolMic, with a workforce of 30 employees, 
generated total output of EUR 10 million in the first half of 2008. 
The company achieved total output of EUR 13.1 million in 2007 
financial year. Confidentiality was agreed concerning the purchase 
price, which consists of equity and cash components. The complete 
acquisition of SolMic also allows centrotherm photovoltaics to raise 
its direct stake in the former centrotherm SiQ GmbH joint-venture 
from 80.5 percent to 100 percent. centrotherm photovoltaics procures 
key equipment for the manufacturing of solar silicon, particularly 
Siemens reactors and converters, as well as vent gas recovery plants,
via centrotherm SiQ. Centrotherm SiQ, with a workforce of around 30 
employees, generated total output of EUR 5.9 million as of June 30, 
2008. Total output was EUR 0.8 million in 2007. The next step 
envisages merging both subsidiaries in order to simplify structures. 
Albrecht Mozer will manage the merged company, and will be 
responsible for all centrotherm photovoltaics' activities in the 
solar silicon area in the future.
"This strategic acquisition expands our share of this important step 
in the solar value-creation chain," commented Robert Hartung, CEO of 
centrotherm photovoltaics. Albrecht Mozer (56) is an experienced 
polysilicon manufacturing specialist. A holder of a degree in 
physics, Albrecht Mozer was for many years CTO of a renowned, German 
manufacturer of polysilicon, ingot and wafers, before founding SolMic
in 2005. He holds over 20 patents in the semiconductor technology and
modules area, and has published over 50 specialist publications as 
both an author and a co-author. "We have planned a number of things 
in the research and development area," commented Albrecht Mozer. "For
instance, we intend to engage intensively with the optimization of 
polysilicon production. In the case of crystallization processes, 
among other things, we are working particularly on the option of 
mixing metallurgical silicon with pure silicon." Robert M. Hartung 
commented: "We are extremely pleased to have such a well-known expert
as Dr Albrecht Mozer on board. This means that, along with Chief 
Technology Officer Dr. Peter Fath, we have now also secured the 
engagement of the second company founder of SolMic, and an expert in 
the solar silicon area. This allows us to safeguard valuable knowhow 
for the entire Group."
In only April of this year, centrotherm photovoltaics acquired the 
remaining shares in GP Solar, and appointed Peter Fath to the 
Management Board, as part of its strategy of integrating key 
equipment and technology into the company. The company is now 
pursuing this path further with the acquisition of SolMic, and is 
simultaneously simplifying its Group structure as a result. Robert 
Hartung went on to comment: "As part of our consistent pursuit of our
strategy, we, together with the Supervisory Board, are currently 
examining the option of integrating sister company Thermal Solutions 
GmbH & Co. KG into the Group by way of an increase in non-cash 
capital. centrotherm Thermal Solutions is a leading producer of 
manufacturing plant for the photovoltaics and semiconductor 
industries, and the largest supplier of centrotherm photovoltaics. 
centrotherm photovoltaics procures key equipment from the company as 
part of an exclusive supply agreement.
end of announcement                               euro adhoc

Further inquiry note:

Company contact:
Saskia Schultz-Ebert
Senior Manager Investor Relations
Tel: +49 7344 918-8890
E-mail: saskia.schultz-ebert@centrotherm.de

Press contact:
Christina Siebels, Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
Tel: +49 40 3690 50-58 /-31
E-mail: c.siebels@hoschke.de; g.pauli@hoschke.de

Branche: Energy
ISIN: DE000A0JMMN2
WKN: A0JMMN
Börsen: Börse Frankfurt / regulated dealing/prime standard

Plus de actualités: centrotherm photovoltaics AG
Plus de actualités: centrotherm photovoltaics AG