SMA Solar Technology AG closes acquisition of dtw Sp.z o.o.

SMA Solar Technology AG (SMA/FWB: S92) has closed its acquisition of dtw Sp.z o.o. today. dtw Sp.z o.o., located in Poland, is one of the leading manufacturers of technologically innovative core components for the inverter production. Within the SMA Group, dtw will operate as an independent subsidiary and global competence center for electromagnetic components. In acquiring one of its long-time suppliers, SMA is securing its position as a technology leader in the area of solar inverters.

The purchase agreement for the acquisition of dtw Sp.z o.o. was signed on June 14, 2011 subject to the approval of the Federal Cartel Authority and the Supervisory Board of SMA. The approval of the Federal Cartel Authority was given on July 13, 2011 and Günther Cramer, Chairman of the Supervisory Board, declared the unanimous consent of the Supervisory Board on July 28, 2011. This means that the acquisition may be closed as per January 1, 2011. For 2011, the Managing Board of SMA expects a positive contribution of the transaction to operating income of € 20 to 25 million.

"SMA and dtw are connected through an extraordinary quality standard and an intensive research and development work," explains SMA CEO Pierre-Pascal Urbon. "The integration of our new subsidiary allows us to more effectively coordinate development processes, while also significantly reducing development times. This provides a great way to further distinguish ourselves from competitors in the future."

The dtw management board will play a major role in the continuing development of SMA’s new subsidiary. Company founder Stefan Domagala will continue to drive the research and development efforts of dtw and work in close cooperation with SMA developers. A number of development projects will focus on magnetic materials that are based on new types of alloys and high-frequency transformers that are optimized for high performance and low weight.

SMA will continue the complex manufacturing of electromagnetic components in the modern production facilities of dtw in Zabierzów. The SMA inverter production will stay exclusively at its headquarters in Niestetal/Kassel as well as at its international sites in Denver, Colorado, and Ontario, Canada, for the North American market.

About dtw Sp.z o.o.
dtw Sp.z o.o. is a leading manufacturer of technologically innovative electronic components and is based in Zabierzów/Krakow, Poland. Founded in 1991 by Stefan and Izabella Domagala, the company currently has around 530 employees (including temporary staff). dtw has experienced strong growth over the past few years and achieved € 74 million in sales in 2010. The company is known for its high-quality products and excellent research and development work.

About SMA
The SMA Group generated sales of EUR 1.9 billion in 2010 and is the worldwide market leader for photovoltaic inverters, a key component of all solar power plants. It is headquartered in Niestetal, near Kassel, Germany, and is represented on four continents by 17 foreign companies. In 2010, the Group employed a staff of over 5,000 (incl. temporary employees). SMA’s product portfolio includes the most comprehensive range of inverters on the market, offering a compatible inverter for every module type and for all plant sizes. The product range covers both inverters for photovoltaic plants connected to the grid as well as inverters for off-grid systems. Since 2008, the Group’s parent company SMA Solar Technology AG has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and also in the TecDAX index. In recent years, SMA has received numerous awards for its excellence as an employer and lately reached first place in the federal “Great Place to Work” competition.

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