Sunfilm AG and Sontor GmbH merge to become one of world's leading manufacturers of silicon-based thin film modules
The new company, to be known as Sunfilm AG, - Combines expertise in production and research & development to take a leading position in the thin film silicon sector, - Reaches critical size to achieve higher productivity and accelerated growth, and - Continues with the full support of its shareholders Q-Cells, Good Energies and NorSun
Bitterfeld-Wolfen/Grossroehrsdorf, 29 April 2009. Sunfilm AG,
Grossroehrsdorf, and Sontor GmbH, Bitterfeld-Wolfen, merge to become
one of the world's largest providers of tandem junction silicon based
thin film modules. The new company will be named Sunfilm AG. In an
increasingly competitive global photovoltaic market, Sunfilm will
have the necessary size and expertise to significantly profit from
the growing segment of thin film solar. Q-Cells SE, Good Energies and
NorSun AS will be the shareholders of the new Sunfilm and are firmly
committed to supporting the company on its future growth path.
Sontor and Sunfilm merge to become a leading manufacturer of
silicon-based tandem junction thin film modules.
With an installed capacity of approximately 85 megawatts peak (MWp)
at the two current production sites in Bitterfeld-Wolfen and
Grossroehrsdorf, plus an additional 60 MWp of capacity under
construction in Grossroehrsdorf, Sunfilm is already one of the
world's largest manufacturers of tandem junction silicon-based thin
film modules. "Thin film is one of the most significant growth areas
within the photovoltaic industry. After the merger, the new Sunfilm
will participate significantly in this growth and we will establish
our company as both a driving force in the market and as a technology
leader", says Wolfgang Heinze, Chief Operating Officer and Chairman
of the Executive Board of Sunfilm AG.
Economies of scale and synergies add to future growth
Sunfilm's size and market position will enable the company to create
a competitive advantage through economies of scale, despite facing an
increasingly crowded market. In addition, Sunfilm can achieve a
variety of cost savings, including those from synergies in purchasing
and those from consolidation of overlapping segments. The combined
expertise in research and development forms an additional clear
competitive advantage. As a result, Sunfilm can accelerate the
further development of thin film technology and reduce production
costs for solar energy in the midterm. "Sunfilm will take a top
position in research and development and will significantly advance
the technology of solar modules with an even higher performance",
according to Dr. Torsten Brammer, Chief Scientist and member of the
Executive Board of the new Sunfilm.
Current shareholders continue to support new company
Q-Cells, the sole owner of Sontor, will hold 50 percent of the new
Sunfilm shares. Q-Cells is a leader within the global photovoltaic
industry and is the world's largest producer of solar cells. "The new
Sunfilm forms a central pillar in Q-Cells' global strategy for thin
film technologies", says Dr. Florian Holzapfel, Board Member of
Q-Cells, responsible for New Technologies. "This powerful merger will
create even more growth momentum in this thin film sector."
Good Energies, a leading global investor in renewable energy and
energy efficiency industries, as well as NorSun AS, a Norwegian
manufacturer of high performance monocrystalline silicon wafers, will
also remain invested in Sunfilm and support the future growth of the
new company. Good Energies will hold about 35 percent of the new
company and about 15 percent will be owned by NorSun. "We believe the
merger is the best way to capitalize on the enormous potential of
tandem junction thin film technology and to establish a leading
company in the market", explains Dr. Sven Hansen, Chief Investment
Officer of Good Energies and Chairman of the Supervisory Board of
Sunfilm.
Strengthening of Germany as a centre of Photovoltaics
The new Sunfilm AG will have production sites in Grossroehrsdorf and
Bitterfeld-Wolfen, while the centre for research and development will
be located in Bitterfeld-Wolfen. The new company now has
approximately 400 employees, but additional jobs will be created in
the midterm as the expansion in Grossroehrsdorf comes on-line. The
merger of the two companies is expected to become legally effective
by the end of May 2009, but is still subject to approval by the
competent antitrust agencies.
