SolarWorld AG / Miscellaneous
24.06.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Capacity Utilization of Production Expansion to 1 Gigawatt in Saxony
Ensured
SolarWorld AG with its subsidiary Deutsche Solar AG is expanding its
leading position as a manufacturer of high quality solar silicon wafers.
The company agreed a ten-year contract for delivery of the crystalline
silicon wafers with a total volume of over 750 million EUR with the
globally operating solar cell producer Solar Semiconductor Pvt. Ltd. from
India. This gives the SolarWorld Group a long-term external volume of
orders of more than six billion EUR in the wafer business until the year
2018.
Construction of new facility is commitment to Germany as production
location
'With the new wafer contract we are securing the capacity utilization of
the new production facility in Freiberg in Saxony,' said Dipl.-Ing. Frank
H. Asbeck, Chairman and CEO of SolarWorld AG. On 7 July 2008 the group will
start the construction work for the new wafer factory. The breaking of the
ground ceremony will be performed by the German Minister of Transport
Wolfgang Tiefensee as the German Governments Minister in charge of the new
federal states.
Asbeck: 'We come out clearly in favor of Germany as a production location.
The Federal Republic is an international pioneer in the expansion of
renewable energies. Motivation and employment qualification are
appropriately high. In this environment our investments are well placed.'It is planned to increase the present production capacity at the Freiberg
location from 500 Megawatt to 750 Megawatt until the end of the year 2009.
In 2010 another 250 Megawatt are to follow. All in all SolarWorld AG will
invest 350 million EUR on the new 200,000 square meter site creating about
500 new jobs at the same time.
About SolarWorld AG: The SolarWorld AG group of companies (ISIN:
DE0005108401) is a world leader in high quality solar power technology. The
company is involved at all levels of the solar value chain and combines all
activities of the industry from silicon as the raw material to turn-key
solar power system. SolarWorld AG is represented in all international solar
growth markets. The group is exclusively dedicated to its core business of
photovoltaic power generation, operating production facilities in Germany
and the USA. They in turn supply the SolarWorld AG sales offices in
Germany, Spain, USA, South Africa and Singapore. In South Korea SolarWorld
AG is currently building up a solar module production facility in order to
be able to serve the growing demand in Asia on the spot in the future. A
central element of the business in addition to the sale of turn-key solar
systems and solar modules to retailers is the distribution of solar silicon
wafers to the international solar cell industry. Apart from grid-coupled
(on-grid) products the SolarWorld Group also sells off-grid solar power
solutions that make an important contribution to the sustainable economic
development of threshold and developing countries. Under the roof
Solar2World the group has pooled its ethical commitment to solar power
especially in developing countries.
SolarWorld AG employs about 2,000 people worldwide. At the stock market the
company is listed among others in the technology index TecDAX, in the
ÖkoDAX, in the Dow Jones STOXX 600, in the international MSCI index as well
as in the sustainability indices DAXglobal Alternative Energy and NAI.
Contact:
SolarWorld AG Investor Relations / Marketing Communications,
Tel.-No.: +49 228 55920 -470; Fax-No.: +49 228 55920-9470,
E-mail: placement@solarworld.de
Internet: www.solarworld.de
DGAP 24.06.2008
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Language: English
Issuer: SolarWorld AG
Kurt-Schumacher-Straße 12-14
53113 Bonn
Deutschland
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 99
E-mail: placement@solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, München, Hamburg, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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DGAP-News: SolarWorld Group Concludes Delivery Contract for another 750 Million EUR
| Source: EQS Group AG