October 9, 2009

Düsseldorf-based Systaic AG, which specialises in integrated solar solutions, is purchasing the business operations of Solarwatt Cells GmbH, Heilbronn. The company has a production capacity of 25 megawatts and employs a workforce of 54.

Systaic will thereby profit from more than 50 years of experience in the manufacture of high-tech solar cells and exceptional know-how for highly efficient mono- and multicrystalline cells. Solarwatt Cells is a wholly-owned subsidiary of Solarwatt AG in Dresden.

With this acquisition Systaic is securing itself a substantial cost-reduction potential in the Automotive and Energy Roof Systems sectors, together with reliability of supply and delivery of high-quality German-made solar cells.

According to the calculations of systaic AG the purchase price – in the medium single-digit range of € million – for cell production will be amortised within little over a year.

It was clearly demonstrated by the International Automobile Exhibition IAA in Frankfurt 2009: The automotive market is currently experiencing a paradigm shift to alternative, emission-free drive technologies accompanied by a strong increase in electricity requirements. The company is convinced that photovoltaic sliding roofs and complete solar roof solutions will soon become standard equipment. They are also well-suited to retrofitting. To satisfy the resulting high demand it will be crucial to secure supplies.

“In its solar system products systaic AG is not focusing on standard modules and cells. It is a developer and manufacturer of specialised integration solutions for photovoltaic products in buildings and vehicles,” explains Michael Pack, CEO of systaic AG. “For these applications we need solar cells with very special qualities and the highest level of efficiency. Photovoltaic cells with these specifications are not yet available on the market at a reasonable price. Solarwatt cells is one of the few manufacturers worldwide to offer just the cell characteristics we need in suitable formats.”

“Furthermore, the acquisition of the plant will enable Systaic to cut its own annual production costs by several million euros. We will thus be making a major contribution to our profit situation. With a view to the market environment, in-house production of these highly specific products for dynamic growth markets is a wise step for systaic AG from a technological and economic perspective,” says Michael Pack in conclusion.

Further details about: SOLARWATT AG and systaic AG