23.01.2017
Manz AG DE000A0JQ5U3
DGAP-News: Manz AG: Orders amounting to EUR 263 million for turnkey lines and strategic cooperation mark breakthrough in CIGS thin-film solar business
DGAP-News: Manz AG / Key word(s): Alliance/Incoming Orders
Manz AG: Orders amounting to EUR 263 million for turnkey lines and strategic
cooperation mark breakthrough in CIGS thin-film solar business
23.01.2017 / 18:44
The issuer is solely responsible for the content of this announcement.
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Manz AG: Orders amounting to EUR 263 million for turnkey lines and
strategic cooperation mark breakthrough in CIGS thin-film solar business
- Bulk orders for two turnkey CIGS production lines totaling 350 MW
capacity by far the largest orders in the company's history ever
- Manz enters strategic cooperation including solar joint ventures with
two leading companies in China's energy sector to commercialize CIGS
thin-film technology
- Cooperation lays foundation for sustainable profitable corporate
development of Manz AG and opens up immense revenue potential for the
future
Reutlingen, January 23, 2017 - Manz AG (ISIN: DE000A0JQ5U3) has entered
into a strategic cooperation with Shanghai Electric Group Co., Ltd. and
Shenhua Group Co., Ltd. in the field of CIGS thin-film technology. In the
course of that, Manz AG received two bulk orders, one for a CIGS production
line with a capacity of 306 MW and another one for a CIGS R&D line with 44
MW capacity. The order for the R&D line has been placed by a newly
established R&D Joint Venture, the order for the CIGS turnkey mass
production line (CIGSfab) by a newly established module joint venture of
affiliated subisidiaries of Shenhua Group and Shanghai Electric. This
CIGSfab, which will be the largest CIGS production line in China and the
second largest worldwide, will be built in Chongqing. The installation will
start in 2017 and will be finished in the following year 2018. Considering
the immense potential worldwide this order, however, is considered only as
a first step. The order volume totals EUR 263 million and will affect
revenues and earnings during the financial years 2017 and 2018. Due to
corresponding down payment agreements, these orders will be realized cash
flow positive. Both, the cooperation as well as the orders received, form
the basis for a profitable corporate development of Manz AG and prove the
technological and cost leadership of CIGS thin-film technology.
Dieter Manz, CEO and founder of Manz AG, is pleased: "This cooperation is
absolutely outstanding in the solar industry worldwide. We were always
convinced of the superiority and potential of our CIGS thin-film technology
since CIGS modules from Manz already offer the lowest electricity
generation costs in comparison to the crystalline silicon technology.
Today's agreements mark the breakthrough in our solar business. Our
confidence in our excellent engineering know-how will now pay off."
In order to further commercialize and develop Manz CIGS thin-film
technology, the three partners - Shenhua, Shanghai Electric and Manz -
agreed combining their strengths in the area of power generation, large-
scale equipment manufacturing and world-leading technology. Shenhua Group,
the largest coal enterprise in China and the largest coal supplier in the
world, teamed up with Shanghai Electric, anchor investor of Manz AG and
leading equipment supplier in China for power generation, to cover know-how
through the entire value chain of renewable power generation from CIGS
solar modules. Manz AG has exclusive access to the world record for CIGS
thin-film solar cell efficiency on glass at 22.6% thanks to its
longstanding and exclusive collaboration with the Center for Solar Energy
and Hydrogen Research of Baden-Wuerttemberg (ZSW). Moreover, Manz already
runs one of the largest and most experienced R&D teams in the field of CIGS
worldwide at its location in Schwaebisch Hall.
R&D Joint Venture: Unique alliance for development of CIGS thin-film
technology
With today's signing, the companies laid the foundation for a unique R&D
Joint Venture that will become the world-leading research company dedicated
to the CIGS thin-film technology. The R&D Joint Venture will leverage the
potential of CIGS for further efficiency increase and reduction of
manufacturing costs. With the objective to further accelerate the R&D
process, a R&D line will be installed in Beijing in addition to the
existing one of Manz in Schwaebisch Hall. Therefore, Manz AG will deliver a
44 MW line to the joint venture. The current R&D entity for CIGS from Manz
AG, the Manz CIGS Technology GmbH, will be aquired by the new R&D JV for
EUR 50 million. In return, Manz becomes shareholder of the Joint Venture
with 15%for an amount of EUR 25 million. The remaining shares are held by
affiliated subsidiaries of Shenhua Group and Shanghai Electric.
The involved parties also agreed to guarantee the site and jobs in
Schwaebisch Hall for the next five years. "By establishing this world class
R&D Joint Venture with our financially strong strategic partners we will
further expand the cost leadership of the CIGS technology. In addition
annual negative earnings effects in our P&L of EUR 15-20 million from
running the site in Schwaebisch Hall will cease with this agreement. This,
together with the order pipeline of 350 MW and the further immense
potential form the basis for a profitable development of Manz AG," Dieter
Manz explains.
Equipment Joint Venture: Cooperation agreements open up big revenue
potential in the upcoming years
To push forward the realization of this immense potential in a sustainable
way, Shanghai Electric, Shenhua Group and Manz will also establish an
Equipment Joint Venture which will exclusively start sales activities for
the CIGSfab in China, realize the engineering services during upcoming
projects and support the ramp-up. Whereas the above mentioned bulk orders
for the R&D line as well as the 306 MW production line have been placed at
Manz AG directly, potential orders from China may follow and will be placed
at the Equipment Joint Venture. Major shareholder in this Joint Venture is
Manz AG with 56% and therefore will fully consolidate future revenues and
earnings. Shanghai Electric and Shenhua Group hold the remaining shares in
the joint venture. In the rest of the world CIGSfabs will be sold solely by
Manz AG. Within the further commercialization, the Equipment Joint Venture
will also have access to the future research results of the R&D Joint
Venture as well as from the collaboration with the ZSW through exclusive
license rights agreements.
Dieter Manz: "Today is a great day for our company and the entire solar
industry. We have been working hard towards this day and finally our
longstanding perseverance as well as the high investments in the further
development of our CIGS technology are paying off. The past years have not
always been easy, neither for our employees nor for our shareholders. But
it was worth it! Manz now takes over a leading role with its fully
integrated turnkey production line CIGSfab regarding the technological
change from the labor- and material-intensive crystalline solar technology
towards the resource-saving and efficient thin- film solar technology. This
makes us all very proud."
Further information:
You can find further information on the importance of the strategic
cooperation for the further development of CIGS thin-film solar technology
as well as its meaning for Manz AG here: https://www.manz.com/ecomaXL/
files/Manz-CIGS-Background.pdf
Current pictures and videos to CIGS can be downloaded here:
Pictures: https://www.manz.com/media/downloads/pictures/?category=60
Video: https://www.manz.com/media/downloads/videos/tfs-prozessschritte-26/
Company profiles:
Manz AG - passion for efficiency
As a globally active high-tech equipment manufacturer, Manz AG, based in
Reutlingen, Germany, is a pioneer for innovative products in fast-growing
markets. Founded in 1987, the company has expertise in seven technology
sectors: Automation, laser processing, vacuum coating, screen printing,
metrology, wet chemical and roll-to-roll processing. Manz deploys and
continuously develops these technologies in three strategic business
segments: Electronics, Solar and Energy Storage.
The company is led by founder Dieter Manz and has been listed on the stock
exchange in Germany since 2006. It currently develops and produces in
Germany, China, Taiwan, Slovakia, Hungary and Italy. It also has sales and
service branches in the United States and India. Manz's claim "passion for
efficiency" offers the promise of production systems of the highest
efficiency and innovation to its customers in dynamic, future-oriented
segments. With its comprehensive expertise in developing new production
technologies and related machines, the company contributes substantially to
reducing production costs for end products, making them accessible to large
groups of buyers the world over.
Shanghai Electric Group Co., Ltd.
Shanghai Electric Group Co. Ltd. is one of the largest and most
comprehensive equipment manufacturing conglomerates in China, possessing
four main businesses with regard to high efficiency & clean energy, new
energy, industrial equipment, and modern services. Its Products cover more
than ten industries. In 2015 revenue amounted to RMB 78.0 bn (EUR 10.6 bn).
The group will pay more effort to the improvement of its competitiveness
through the execution of following three major strategies: core business
concentration, high technology innovation, global source integration.
Meanwhile, the group is developing "Shanghai Electric" as a universal
brand, so that it will have the fundamentals to develop the group into one
of the largest and most competitive equipment manufacturers in the world
with a top position in the China market. Shanghai Electric is listed on the
Hong Kong Stock Exchange and the Shanghai Stock Exchange.
Shenhua Group Corporation Ltd.
The Shenhua Group Corporation Ltd. was set up in October 1995 and is the
largest and most modern coal enterprise in China and the largest coal
supplier in the world. As a multinational company, the Shenhua Group is
engaged in power generation, railway and port transportation, shipping,
coal-to-liquid and coal chemicals with integrated production,
transportation and sales operations.
In 2015, Shenhua Group is ranked 196th among the global Fortune 500.
Headquartered in Beijing, China Shenhua Energy Company Ltd., created by
Shenhua Group, is listed on the Hong Kong Stock Exchange and the Shanghai
Stock Exchange. By the end of 2015, Shenhua Group had 21 wholly owned
subsidiaries, had invested in 54 coal mines and power plants and had a
total installed electricity production capacity of 78.51 million kilowatts.
The group's total assets were worth RMB 931.4 billion at the end of that
year with a registered staff of 208,000.
In 2015, Shenhua Group actively adapted to the Chinese strategic focus on
clean energy development and has made remarkable achievements in production
and operation since then. Investor Relations Contact
cometis AG
Ulrich Wiehle / Claudius Krause
Tel.: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-mail: [email protected]
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-mail: [email protected]
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23.01.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: Manz AG
Steigäckerstr. 5
72768 Reutlingen
Germany
Phone: +49 (0) 7121 9000-0
Fax: +49 (0) 7121 9000-99
E-mail: [email protected]
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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538537 23.01.2017
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