DGAP-News: SMA Solar Technology AG: SMA strengthens its presence in North America with solar inverter production, sales and services in Ontario, Canada
(firmenpresse) - SMA Solar Technology AG / Miscellaneous
09.03.2010 17:07
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
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* The SMA Group unlocks new growth market in North America
* SMA establishes subsidiary for production, sales and services in
Ontario, Canada
* To begin with, production designed for an annual capacity of up to
500 megawatts
* Start of production planned for Q4/2010
* Solar inverters to be manufactured for the Canadian photovoltaic market
in the new factory
SMA Solar Technology AG (Frankfurt Stock Exchange: S92) is to strengthen
its presence in North America with the foundation of a subsidiary in
Canada. The site will be selected during the course of the first half of
2010. The initial investment volume is between EUR 5 and 10 million. SMA
solar inverters from the Sunny Boy, Sunny Central and Sunny Island product
ranges are to be produced for the Canadian market. Sales and services are
also to be bundled together into the company. SMA is planning to create 100
to 200 jobs on site in the medium term.
The province of Ontario in Canada offers an outstanding framework for the
development of a sustainable photovoltaic market. The recently implemented
support programme, combined with above-average solar radiation, creates a
strong incentive for investment in photovoltaics. For manufacturers of
photovoltaic components, the programme comprises of a call for local
content. The goal of this call is the creation of high-quality jobs in a
sector geared to the future.
'We support this call for local content and are meeting this requirement
with the establishment of a production facility there,' explains Günther
Cramer, Chief Executive Officer at SMA Solar Technology AG. 'Ontario's
support programme is a guiding light and, according to our evaluation, of
the potential in inspiring other Canadian provinces to follow suit.'
In parallel, the SMA Group is also increasing production capacity at the
sites in Kassel and Denver. Germany is to remain the main production and
technological development area for the future. At the sites in Niestetal
and Kassel, annual capacity is to be increased to around 10 gigawatts by
the middle of the year through the implementation of interim solutions.
Production inDenver, USA is in the initial phase, operating at an annual
capacity of around 1 gigawatt, and should start production this summer.
About SMA
The SMA Group generated sales of c. 934 million Euro in 2009 and is the
worldwide market leader for photovoltaic inverters, a key component of all
solar power plants. It is headquartered in Niestetal, near Kassel, Germany,
and is represented on four continents by 13 foreign subsidiaries. The Group
employs a staff of over 4,000 (incl. temporary employees). SMA's product
portfolio includes the most comprehensive range of inverters on the market,
offering a compatible inverter for every type of photovoltaic module and
for all plant sizes. The product range covers both inverters for
photovoltaic plants connected to the grid as well as inverters for off-grid
systems. 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. In recent years, SMA has received numerous awards
for its excellence as an employer.
SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Germany
Press contact:
Volker Wasgindt
Head of Press and Association Work
Phone +49 561 9522-11 21
Fax +49 561 9522-11 03
Volker.Wasgindt(at)SMA.de
Investor Relations:
Anna Raudszus (Institutional Investors/Analysts)
Director Investor Relations
Phone +49 561 9522-22 22
Fax +49 561 9522-22 23
ir(at)SMA.de
Julia Damm (Private Investors)
Phone +49 561 9522-11 64
Disclaimer:
This press release 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 press release 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
executive 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.
09.03.2010 17:07 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: SMA Solar Technology AG
Sonnenallee 1
34266 Niestetal
Deutschland
Phone: +49 (0)561 / 9522 - 0
Fax: +49 (0)561 / 9522 - 100
E-mail: info(at)sma.de
Internet: http://www.sma.de
ISIN: DE000A0DJ6J9
WKN: A0DJ6J
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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