Eco Supplies Expands in Solar and Acquires Gällivare Photovoltaic AB
(Thomson Reuters ONE) -
Eco Supplies Europe AB / Eco Supplies Expands in Solar and Acquires Gällivare Photovoltaic AB processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Askim, Sweden 2010-05-26
Eco Supplies Europe AB today announced that the company has entered into a
binding Agreement to acquire a major producer of Photovoltaic ("PV") solar
modules: Gällivare PhotoVoltaic AB ("GPV").
Established in 1992, GPV is one of Scandinavia's most modern and one of the
leading companies in the production of high quality PV modules to the solar
industry.
Between 1999 and 2007 GPV was owned by Solar World AG, which is one of the
world's most prominent solar electricity groups. Recently, GPV belonged to
Borevind AB.
During 2009, GPV reported revenues of over ?49 Million (480 Million SEK). During
the same year, and due to a massive investment project that further modernized
and automated the plant, the annual production capacity increased from 22 Mega
Watts to 45 MW.
The Agreement is subject to the successful completion of certain conditions.
Further information of these conditions will not be disclosed until the closing
of the acquisition of GPV has been made, which is expected in June 2010.
Svante Kumlin, Chairman of Eco Supplies, comments:
"I am very happy that Eco Supplies has been able to execute on this acquisition
since the incorporation of GPV is estimated to add ?50 Million in annual sales
to the Eco Supplies Group, while maintaining stable profitability. Furthermore,
the timing of the transaction is right since the global PV market has come out
from a depressed situation in 2009 and the solar market is growing very fast
again with great demand for GPV's products".
Fredrik Staël von Holstein, CEO of Eco Supplies further comments:
"This deal enables Eco Supplies to fulfill our long term goal to be a true eco
supplier within renewable energies and other environmentally friendly
industries. Being a modern, high quality and automated producer of PV modules,
GPV acts in a business segment that will experience annual growth figures of
30-40% in the years to come. GPV is well positioned to take advantage of this
situation".
For more information about Eco Supplies, please visit www.ecosupplies.eu
172 430 17 98.
About Eco Supplies Europe AB: visit www.ecosupplies.eu
Eco Supplies Europe AB is a listed company on Deutsche Börse
(www.boerse-frankfurt.de
7C0. It is a fast growing, profitable, holding company with activities in
renewable and ecological energy supplies and other environmentally friendly
industries.
About Gällivare PhotoVoltaic AB: visit www.gpv-solar.com
Established in 1992, Gällivare PhotoVoltaic AB is a modern Swedish manufacturer
of photovoltaic solar modules of the highest quality. The annual production
capacity is currently 45 Mega Watts.
[HUG#1419051]
--- End of Message ---
Eco Supplies Europe AB
Stora Åvägen 21 Askim Sweden
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
Eco Supplies Expands in Solar and Acquires Gällivare Photovoltaic AB: http://hugin.info/142396/R/1419051/369234.pdf
Unternehmensinformation / Kurzprofil:
Datum: 26.05.2010 - 21:51 Uhr
Sprache: Deutsch
News-ID 21513
Anzahl Zeichen: 0
contact information:
Town:
Askim
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 372 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Eco Supplies Expands in Solar and Acquires Gällivare Photovoltaic AB"
steht unter der journalistisch-redaktionellen Verantwortung von
Eco Supplies Europe AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
