DGAP-News: SolarWorld AG implements transformation measures in the U.S. and Germany
(firmenpresse) - DGAP-News: SolarWorld AG / Key word(s): Miscellaneous
SolarWorld AG implements transformation measures in the U.S. and
Germany
02.09.2011 / 11:34
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02.09.2011
Corporate News SolarWorld AG
(Securities Code No.: WKN 510 840)
(International Securities Identification Number: ISIN DE0005108401)
SolarWorld AG implements transformation measures in the U.S. and Germany
Wage cost share in the group below 10 percent
In the last few months, SolarWorld AG has massively expanded and modernized
its production capacities along the entire value chain at its locations in
the U.S. and in Germany. Older parts of the production facilities are now
consistently taken out of service by the group to strengthen its
competitiveness.
In the United States, SolarWorld is concentrating production activities on
its location at Hillsboro, Ore. At the group's largest location outside
Germany, SolarWorld AG is already operating two solar power module
production lines. The module production at Camarillo, Calif. is now to be
discontinued and completely pooled at Hillsboro. As a result of this merger
at a fully integrated location, SolarWorld AG will tap synergy potentials
and cut production costs. The sales and distribution unit at Camarillo will
be retained and further strengthened.
In Germany, SolarWorld at the Freiberg/Saxony location has a
state-of-the-art annual production capacity of 1,000 MW after the
commissioning of the new production facility for solar wafers. Older parts
of the production facilities can thus be taken out of service. This will be
accompanied by a reduction of the level of loan workers, which was
previously necessary during the build-up phase. With this transformation,
SolarWorld will achieve a substantial cost reduction as well as an increase
of productivity at the German site.
With the measures described, SolarWorld will strengthen its competitiveness
at its two locations in the U.S. and Germany in a hotly contested market.
Dr.-Ing. E. h. Frank Asbeck: 'With this, we will continue to keep our wage
cost share at below 10 percent. Especially in contrast to manufacturers who
increasing relocate to low wage countries or come from there, this is of
strategic importance. It means that we offer quality from Germany and
quality made in the U.S. that is competitive with the Far East.'
About SolarWorld AG: The SolarWorld AG Group (ISIN: DE0005108401) is a
worldwide leader in offering brand-name, high quality, crystalline
solar-power technology. Its strength is its fully integrated solar
production. From silicon as the raw material through wafers, cells and
modules all the way to turn-key solar systems of all sizes, the group
combines all stages of the solar value chain. The central business activity
is selling quality modules into the installation and distribution trades
and crystalline wafers to the international solar cell industry. Group
headquarters are located in Bonn, Germany. The group's largest production
facilities operate in Freiberg, Germany and Hillsboro in the U.S. State of
Oregon. Sustainability is the basis of the group strategy. Under the name
Solar2World, the group supports care projects using off-grid solar-power
solutions in developing countries, exemplifying sustainable economic
development. Worldwide, SolarWorld employs about 3,500 people. SolarWorld
AG has been quoted on the stock exchange since 1999 and today is listed on,
among others, the TecDAX andÖkoDAX as well as in the sustainability index
NAI.
Contact:
SolarWorld AG
Tel: +49 228-55920-400
Email: presse(at)solarworld.de
Investor Relations
Tel: +49 228-55920-470
Fax: +49 228-55920-9470
Email: placement(at)solarworld.de
Internet: www.solarworld.de
End of Corporate News
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02.09.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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: placement(at)solarworld.de
Internet: www.solarworld.de
ISIN: DE0005108401
WKN: 510840
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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Datum: 02.09.2011 - 11:34 Uhr
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