19.04.2017
Manz AG DE000A0JQ5U3
DGAP-News: Manz AG: Preconditions for CIGS orders definitively fulfilled
DGAP-News: Manz AG / Key word(s): Miscellaneous
Manz AG: Preconditions for CIGS orders definitively fulfilled
19.04.2017 / 09:29
The issuer is solely responsible for the content of this announcement.
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Manz AG: Preconditions for CIGS orders definitively fulfilled
- Necessary official approvals in connection with major CIGS orders granted
as expected
- Payment of EUR 50 million for Manz CIGS Technology GmbH and downpayment of
EUR 79 million for CIGS orders expected in May
- Newly established companies Suzhou Manz New Energy Equipment and NICE PV
Research Ltd. start operations
Reutlingen, 19 April 2017 - Manz AG, a globally active high-tech equipment
manufacturer with a comprehensive technology portfolio in its three
strategic segments of "Solar", "Electronics" and "Energy Storage", has today
announced that all the official approvals for its strategic cooperation with
Shanghai Electric and the Shenhua Group in the field of CIGS thin-film solar
technology, and for the resulting major orders, have been granted. This
means that the preconditions for the orders with a total value of EUR 263.0
million are fulfilled. Payment of the EUR 50 million purchase price for Manz
CIGS Technology GmbH as well as the agreed downpayment of EUR 79.0 million
for the CIGS orders is expected to be made to Manz AG in May this year.
As a result of the approvals that have been issued, Manz CIGS Technology
GmbH, the former Manz AG CIGS research company, will become part of NICE PV
Research Ltd. which is now starting its research operations as planned. With
the signing of the contract at the end of January 2017 Manz AG and its
Chinese partners laid the foundations for this unique company to become the
world's leading research institution in the field of CIGS thin-film
technology. NICE PV Research Ltd. will speed up the further development of
CIGS technology with immediate effect, which will leverage its potential for
further increases in photovoltaic efficiency and reductions in production
costs. In addition to the existing innovation line for CIGS thin-film solar
modules at Schwaebisch Hall, a further production line with a capacity of 44
MW will therefore be built in Beijing.
The granting of the official approvals has also led to the start of
operations at the second newly established company - Suzhou Manz New Energy
Equipment Co.,Ltd. The company is exhibiting for the first time at the
world's most important photovoltaics trade show, the "SNEC PV Power Expo"
which is currently being held in Shanghai. Suzhou Manz New Energy Equipment
was founded by Manz AG, Shanghai Electric and the Shenhua Group in order to
boost the marketing of CIGS technology in China. From now on the company has
exclusive responsibility for the sales activities in China, will provide
engineering services for future projects and will support in their early
phases. Whereas both of the existing major orders were placed directly with
Manz AG, potential follow-up orders from China will be placed with Suzhou
Manz New Energy Equipment. The company's majority shareholder is Manz AG
with a 56% holding. Future earnings and expenditure will accordingly be
consolidated in the Manz Group's financial statements. In all other regions
apart from China, CIGSfab will continue to be marketed exclusively by Manz
AG.
Company profile:
Manz AG - passion for efficiency
As a globally active high-tech equipment manufacturer, Manz AG, based in
Reutlingen, Germany, is a pioneer in the provision of innovative products in
fast-growing markets. Founded in 1987, the company has expertise in six
technology sectors: automation, laser processing, 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 headed up by its 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 motto "passion
for efficiency" sums up its promise of production systems with the highest
levels of efficiency and innovation for its customers in dynamic,
future-oriented industries. With its comprehensive expertise in developing
new production technologies and related machines, the company contributes
substantially to reducing production costs for end products and making them
accessible to large groups of buyers the world over.
Investor Relations Contact
cometis AG
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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19.04.2017 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.
Archive at www.dgap.de
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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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565465 19.04.2017
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