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centrotherm photovoltaics acquires 100 percent of GP Solar

9:00 29-4-2008, 29.04.2008

  • Remaining 25.2 percent of subsidiary acquired
  • Dr. Peter Fath appointed CTO
  • Expansion of technology expertise

Blaubeuren, April 29, 2008– Today, the management and supervisory boards of centrotherm photovoltaics AG signed an agreement to acquire the entirety of GP Solar GmbH. The company, which is based in Constance, provides products, consultancy services, and technology for photovoltaics with a focus on quality control and process technology for the manufacturing of solar cells and solar modules. GP Solar currently employs a workforce of over 70 members of staff. The purchase price is subject to a confidentiality agreement.

The acquisition enables centrotherm photovoltaics to take an important step forward in its strategy of expanding its solar silicon division, and in the simplification of the Group structure: the acquisition of the remaining 25.2 percent of GP Solar now means the company holds larger indirect stakes in SOLMIC GmbH and centrotherm SiQ GmbH. Both companies are important partners in the solar silicon area.

centrotherm photovoltaics already holds 74.8 percent of GP Solar. The founder and Managing Director of GP Solar, Dr. Peter Fath (40), held the remaining percents. He will strengthen the Management Board team of centrotherm photovoltaics AG from May 1 in his role as Chief Technology Officer (CTO). To date, the Management Board has consisted of three members. Dr. Fath, who holds a doctorate in physics, will be responsible for the newly created Management Board area of Overall Technology, Research & Development, and Group Marketing. His initial focus will be on further expanding the company’s technology expertise in the areas of crystalline solar cells, thin-film technology, and solar silicon. Dr. Fath will also be responsible for developing and implementing the marketing strategy across the centrotherm Group. In addition, Dr. Peter Fath will be active as Managing Director of centrotherm Photovoltaics Technology GmbH.

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Dr. Peter Fath, who is a native of Baden-Württemberg, has to date been active as Managing Director of GP Solar GmbH. Dr. Fath founded GP Solar in Constance in 1999. He also founded SOLMIC GmbH together with a partner in 2005. SOLMIC GmbH is based in Burghausen. Dr. Fath is still a member of the management of SOLMIC GmbH. Before founding SOLMIC and GP Solar, Dr. Fath was responsible for research and development at Sunways AG. Dr Fath looks back on a 17-year career in photovoltaics in the areas of R&D, engineering, technology transfer, and consulting, accompanied by over 170 publications and numerous patents. He has been awarded several national and international prizes for his work.

"The appointment of Dr Faith appropriately strengthens our Management Board team, with the aim of further expanding our technology expertise and anchoring our fine-tuned Group-wide marketing strategy in a target group focused manner," commented Robert Hartung, Spokesperson for the Management Board of centrotherm photovoltaics AG. "This is a particularly important area since our international customer base is expanding continuously, and, besides suppliers from various sectors, increasingly also includes energy supply companies and capital investors. We always keep one objective in sight in this respect – namely our aim to use our technology expertise to enable our customers to significantly reduce their production costs, and consequently achieve decisive competitive advantages."

About centrotherm photovoltaics AG

centrotherm photovoltaics AG is an internationally leading provider of technology and services for the production of solar cells and solar silicon. The broad product spectrum comprises key equipment and turnkey production lines for crystalline and thin-film solar cells. The product range is supplemented by reactors and converters for the manufacturing of solar silicon. Business operations currently focus on the growth market of Asia. The international customer base includes well-known companies from the solar sector. The company, which is based in Blaubeuren near Ulm, currently has over 320 employees.

centrotherm photovoltaics AG

Johannes-Schmid-Straße 8
89143 Blaubeuren

Listing: Regulated Market/Prime Standard, Frankfurt Securities Exchange
Registered Office: Germany

Company contact:

Saskia Schultz-Ebert
Senior Manager Investor Relations
T +49 (0)7344 918-8890

Press contact:

Grit Pauli
HOSCHKE & CONSORTEN Public Relations GmbH
T +49 (0)40 3690 50-31