Centrosolar Group AG / Alliance 05.06.2009 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------------  Agreement reached on continuation with consortium including Portuguese energy group EDP  New plant scheduled to start production in 1st quarter of 2010 Munich, June 5, 2009. With the support of the Portuguese state, CENTROSOLAR's negotiations with financing banks and a new partner for the planned cell plant located near Porto (Portugal) were today brought to a successful conclusion. This clears the way for the transfer of a 51% interest from Qimonda to the new investor. The continuation of Itarion Solar and the development of the new plant are thus assured. The opening of the first solar cell plant in Portugal is scheduled for the first quarter of 2010. The new partner is a consortium comprising the Portuguese energy group Energias de Portugal (EDP), the state investment company Inovcapital, the banks Banco Espírito Santo, Banco Comercial Português and Banco Privado Atlântico, as well as the project developer DST Renováveis and the Visabeira Group, which is active in infrastructure industries. The key features of the future partnership between CENTROSOLAR Group AG, which holds a 49% interest, and the consortium, which had previously been in negotiations with Qimonda about the remaining 51% interest, were finalised today together with the financing banks. CENTROSOLAR Group AG, which had been involved in the search for a new partner since the start of the year, welcomes the new development. The consortium constitutes a reliable partner that has already established excellent contacts with the Iberian and even African markets. With the new, financially strong partner on board, the investment can now be completed successfully. A technology team with ample experience in semiconductor manufacturing and photovoltaic, recruited in part from the former joint venture partner Qimonda, has already been set up since the start of the year. This experienced technology team and the superior cost positions means that Itarion represents an attractive investment for all parties concerned. The CENTROSOLAR Group will be able to meet approximately one-third of its demand for solar cells through Itarion, on attractive terms. The company will moreover be able to absorb cyclical fluctuations in the market much more easily, in particular providing greater planning certainty for the rapidly growing area of project business for large commercial roof systems. Georg Biekehör, MetaCom Corporate Communications GmbH Tel.: +49 6181 9828030 e-mail: g.biekehoer@go-metacom.de DGAP 05.06.2009 --------------------------------------------------------------------------- Language: English Issuer: Centrosolar Group AG Walter-Gropius-Str. 15 80807 München Deutschland Phone: +49 (0)89 20 1800 Fax: +49 (0)89 20 180 555 E-mail: info@centrosolar.com Internet: www.centrosolar.com ISIN: DE0005148506 WKN: 514850 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Centrosolar Group AG: New partner found for continuation of Itarion solar cell company
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