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July 23, 2009
Constance,
Germany: Sunways Goes on Short-Time Work
In
the second quarter 2009, the demand for components of Sunways
AG increased against the prior quarter as well as against the
prior year period. Lower priced raw materials as well as economies
of scale at the Arnstadt production plant made a positive contribution
to the result while the pressure on selling prices remained unchanged.
Overall,
first key data indicate a positive view of the business development
in the second quarter. Sunways AG will present its interim report
for the first half-year 2009 on 14 August.
After
running at almost full capacity until June 2009, Sunways AG will
start short-time work at the Constance plant as from July 2009
and at Arnstadt as from August 2009. This adjustment of production
capacities will be required due to several factors, including
the weak demand for special cells from the automotive industry
as well as the lack of investments in solar parks and similar
major solar projects in view of the continuing effects of the
financial crisis.
Short-time
work will initially also enable plant adjustments in order to
improve quality and reduce costs in the production area. In addition,
maintenance and upkeeping activities can be performed in this
period. Outlook for the entire fiscal year 2009 subject to continuing
sector-related uncertainties The sales and results expected by
Sunways AG for the second half of 2009 will be directly correlated
to a stabilization of demand and price structures and thus are
subject to uncertainties.
On
the whole, production capacities existing and being developed
worldwide as well as present inventories markedly exceed customer
demand. From today’s point of view, Sunways AG anticipates that
the business development in the second half of 2009 will be in
line with previous expectations, despite the difficult sector
environment.
Further details about: Sunways
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