DGAP-News: SMA Solar Technology AG / Key word(s): Mergers &
Acquisitions
SMA Solar Technology AG: SMA Purchases European O&M Business from
Phoenix Solar AG
06.08.2014 / 13:59
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SMA Solar Technology AG - Corporate News
SMA Solar Technology AG Purchases European O&M Business from Phoenix Solar
AG
Niestetal/Sulzemoos, August 6, 2014-SMA Solar Technology AG (SMA/FBW: S92)
and Phoenix Solar AG today signed a contract for the selling of European
operations and maintenance activities (O&M business) from Phoenix Solar to
SMA. This transaction sees SMA systematically implementing its growth
strategy in the service business.
"Operation and maintenance services for PV power plants are an important
driver of our growth strategy in the service business. After successfully
establishing this business field in North America with 200 MW, we are now
looking to develop the high-volume European market for SMA through the
acquisition of the O&M business from Phoenix Solar. We will continue to
expand our O&M services in Europe and North America and thus benefit from
our outstanding expertise and installed basis," explained SMA Chief
Executive Officer Pierre-Pascal Urbon. Since the inverter is a central
component in any PV system, many owners and PV system operators regard the
leading manufacturer, SMA, as the natural partner of choice for operation
and maintenance services. In addition, the O&M business offers sustainable
and stable sales and yields for SMA.
"It was not an easy decision for us to part with our Ulm-based O&M
business. However, in view of our strategic focus on Asia and the USA,
providing support for large solar parks in Europe was no longer readily
compatible. Seen from this standpoint, the business did not have a
strategic perspective. By contrast, we know that the prospects for our
European O&M activities are very good with SMA, and that our former
customers will continue to receive the best possible support. We will be
able to use the proceeds from the sale to reduce our debt and strengthen
our core business", said the Chief Executive Officer of Phoenix Solar Dr.
Bernd Köhler.
SMA will acquire from Phoenix Solar a number of customer contracts in
Germany, France, Spain and Italy as well as the infrastructure at the Ulm
site and its 18-strong workforce. The parties have agreed not to disclose
any details of their agreement. The transaction will be complete once a
certain minimum number of Phoenix Solar's contract customers have approved
the transfer of the existing O&M contracts to SMA.
About SMA
The SMA Group generated sales of more than EUR930 million in 2013 and is
the global market leader for solar inverters, a key component of all PV
plants. SMA offers innovative key technologies for future power supply
structures. It is headquartered in Niestetal, near Kassel, Germany, and is
represented in 21 countries. The Group employs more than 5,000 people
worldwide. SMA's broad product portfolio includes a compatible inverter for
every type of module on the market and for all plant sizes. The product
range includes both inverters for grid-connected photovoltaic plants as
well as off-grid and hybrid system technology. The product portfolio is
supplemented by comprehensive services and operational management of
utility-scale PV plants. Since 2008, the Group's parent company, SMA Solar
Technology AG, has been listed on the Prime Standard of the Frankfurt Stock
Exchange (S92) and also in the TecDAX index.
About Phoenix Solar AG
Phoenix Solar AG, which is based at Sulzemoos, near Munich, Germany, is an
internationally operating photovoltaic system integrator. The Group
develops, plans, constructs and assumes operational management of large
photovoltaic power plants, and is a specialist wholesaler for complete
solar electricity systems, solar modules and related equipment. With its
subsidiaries on three continents, the company has sold solar modules with
an output of well over one gigawatt worldwide since it was founded. The
shares of Phoenix Solar AG (ISIN DE000A0BVU93) are listed on the Regulated
Market (Prime Standard) of the Frankfurt Stock Exchange.
www.phoenixsolar-group.de
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Head of Corporate Communications:
Anja Jasper
Tel.: +49 561 9522-2805
Presse@SMA.de
Press contact:
Susanne Henkel
Manager Corporate Press
Tel.: +49 561 9522-1124
Fax +49 561 9522-421400
Presse@SMA.de
Investor Relations contact:
Julia Rother
Manager Investor Relations
Tel. +49 561 9522-2222
Fax +49 561 9522-2223
IR@SMA.de
Disclaimer:
This corporate news serves only as information and does not constitute an
offer or invitation to subscribe for, acquire, hold or sell any securities
of SMA Solar Technology AG (the "Company") or any present or future
subsidiary of the Company (together with the Company, the "SMA Group") nor
should it form the basis of, or be relied upon in connection with, any
contract to purchase or subscribe for any securities in the Company or any
member of the SMA Group or commitment whatsoever. Securities may not be
offered or sold in the United States of America absent registration or an
exemption from registration under the U.S. Securities Act of 1933, as
amended.
This corporate news can contain future-oriented statements. Future-oriented
statements are statements which do not describe facts of the past. They
also include statements about our assumptions and expectations. These
statements are based on plans, estimations and forecasts which the Managing
Board of SMA Solar Technology AG (SMA or company) has available at this
time. Future-oriented statements are therefore only valid on the day on
which they are made. Future-oriented statements by nature contain risks and
elements of uncertainty. Various known and unknown risks, uncertainties and
other factors can lead to considerable differences between the actual
results, the financial position, the development or the performance of the
corporation and the estimates given here. These factors include those which
SMA has discussed in published reports. These reports are available on the
SMA website at www.SMA.de. The company accepts no obligation whatsoever to
update these future-oriented statements or to adjust them to future events
or developments.
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06.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info@sma.de
Internet: http://www.sma.de
ISIN: DE000A0DJ6J9
WKN: A0DJ6J
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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281129 06.08.2014
DGAP-News: SMA Solar Technology AG: SMA Purchases European O&M Business from Phoenix Solar AG
| Source: EQS Group AG