10.02.2017
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DGAP-News: SolarWorld AG strengthens its competitiveness
DGAP-News: SolarWorld AG / Key word(s): Strategic Company
Decision/Miscellaneous
SolarWorld AG strengthens its competitiveness
10.02.2017 / 13:35
The issuer is solely responsible for the content of this announcement.
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SolarWorld AG strengthens its competitiveness
Focusing on monocrystalline high-efficiency products
In the course of 2017, SolarWorld AG is going to focus its business
activities in such a way that the group will successfully compete in a fast
changing market environment. With a bundle of measures, SolarWorld will
continue its quality strategy and concentrate entirely on the production
and sale of high-efficiency products based on monocrystalline silicon
technology and PERC (passivated emitter rear cell).
The production of multicrystalline wafers, cells and modules, the
efficiencies of which are lower for technological reasons, are going to be
shut down in the course of 2017. The group's R&D subsidiary SolarWorld
Innovations GmbH will focus on efficiency-enhancing processes that can be
combined with PERC. Today, SolarWorld already offers Bisun modules, which
turn sunlight into power from the front and the back side and are a further
development of PERC.
"Whoever buys SolarWorld shall get high efficiency - always," says Dr.-Ing.
E. h. Frank Asbeck, CEO of SolarWorld AG. "We will compete successfully by
focusing exclusively on innovative solar technology with the highest
quality, longevity and efficiency."
Measures include plans to bundle steps of the value chain at individual
sites: crystal growing and cell manufacturing in Arnstadt, Thuringia,
wafering and module manufacturing in Freiberg, Saxony. Thus, the group can
reach economies of scale faster, reduce redundancies, simplify processes
and create room for future growth. The smaller production entities for
modules in Arnstadt and for cells in Freiberg will be relocated. At the
U.S. site in Hillsboro, SolarWorld is already exclusively producing PERC
cells and modules.
These measures will lead to lower expenses for production, sales and
overhead and a staff reduction of about 400 by 2019. In parallel,
SolarWorld is going to invest a mid-double-digit million amount in the
continuous expansion and the improvement of its high efficiency
technologies.
Dr.-Ing. E. h. Frank Asbeck: "These measures will decrease costs and
increase efficiency significantly. Our aim is to come out of the difficult
phase for the solar market stronger than before and to raise module
shipments to about 2 gigawatts by 2019."
Interview: An interview with Dr.-Ing. E. h. Frank Asbeck on the focusing
measures is available on the media pages of SolarWorld's website at:
http://www.solarworld.de/en/press/interview
SolarWorld REAL VALUE: SolarWorld manufactures and sells high-tech solar
power solutions and in doing so contributes to a cleaner energy supply
worldwide. The group, headquartered in Bonn, Germany, employs 3,288 people
and operates facilities in Freiberg, Germany; Arnstadt, Germany; and
Hillsboro, Oregon, USA as well as in a joint venture with Qatar Solar
Technologies. From raw material silicon to solar wafers, cells and modules,
SolarWorld manages all stages of production ‒ including research and
development in its own company, SolarWorld Innovations. Through an
international distribution network with locations in Europe, USA,
Singapore, Japan, South Africa and Qatar, SolarWorld supplies customers all
over the world. The company upholds high social standards and commits
itself to resource- and energy-efficient production. With its program
Solar2World, the company supports the expansion of solar power in
developing countries. SolarWorld was founded in 1998 and has been publicly
traded on the stock market since 1999. More information at
www.solarworld.com
Contact:
SolarWorld AG
Timo Glatz
Martin-Luther-King-Str. 24
53175 Bonn/ Germany
Phone: +49 228 55920-409
Email: [email protected]
Web: www.solarworld.com
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10.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: SolarWorld AG
Martin-Luther-King-Straße 24
53175 Bonn
Germany
Phone: +49 (0)228 - 559 20 470
Fax: +49 (0)228 - 559 20 9470
E-mail: [email protected]
Internet: www.solarworld.de
ISIN: DE000A1YCMM2, DE000A1YDDX6, DE000A1YCN14
WKN: A1YCMM, A1YDDX, A1YCN1
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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543723 10.02.2017
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