centrotherm photovoltaics AG

centrotherm photovoltaics acquires solar silicon specialist SolMic

Expertise for fully integrated factories entirely under one roof

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merger, acquisition and takeover

Blaubeuren (euro adhoc) - 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
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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

Original-Content von: centrotherm photovoltaics AG, übermittelt durch news aktuell

Weitere Meldungen: centrotherm photovoltaics AG

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