SolarWorld AG / Key word(s): Mergers & Acquisitions/Miscellaneous
26.11.2013 07:58
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Today, SolarWorld AG signed an agreement to acquire parts of Robert Bosch
GmbH's solar energy business. As part of the agreement, SolarWorld AG will
take over cell production capacity of 700 MW as well as module production
capacity of 200 MW from Bosch Solar Energy AG in Arnstadt, a city in the
German state of Thuringia.
In a so-called 'asset deal', the newly formed SolarWorld
Industries-Thüringen GmbH, a 100 percent subsidiary of SolarWorld AG, will
take over the major portion of Bosch Solar Energy AG's manufacturing plants
and other assets. The Arnstadt site will continue to employ about 800
workers in the cell and module production. The acquisition will not reduce
the financial resources of SolarWorld AG.
Once the transaction is completed, the SolarWorld group will have
production capacities of more than 1 gigawatt along each of the wafer, cell
and module stages of the solar value chain. SolarWorld plans to continue to
supply existing cell and module customers of Bosch Solar Energy AG. The
production plant for high-performance mono-crystalline cells will
complement SolarWorld's technological portfolio. Research and development
activities aiming to improve high efficiency solar cells will be pooled to
create further competitive advantages for the group and enable further cost
reductions.
The transaction is still subject to the relevant antitrust approval as well
as further closing conditions. Closing is expected in late February 2014.
Contact for media:
SolarWorld AG / Press
Phone: +49228/55920-409; Fax: +49228/55920-9409
email: press@solarworld.de; internet: http://www.solarworld.de/presse
Contact for capital market:
SolarWorld AG / Investor Relations
Phone: +49228/55920-470; Fax: +49228/55920-9470
email: placement@solarworld.de; internet:
www.solarworld.de/investor-relations
26.11.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: SolarWorld AG
Martin-Luther-King-StraÃe 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401, XS0641270045, XS0478864225
WKN: 510840
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München, Stuttgart;
Terminbörse EUREX
End of Announcement DGAP News-Service
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DGAP-Adhoc: SolarWorld AG acquires solar activities of Robert Bosch GmbH
| Source: EQS Group AG