Niestetal, October 26, 2009 – In order to optimize the supply of inverters to the growing North American solar market, the SMA Group of Companies (SMA) will establish an additional production facility in Denver, Colorado. At its inauguration, the yearly production capacity of the new facility will be around one gigawatt with an option for expansion. The central SMA site for production, as well as research and development, in Niestetal and Kassel (Germany) will continue to grow in the years to come.
In the new US production facility for solar inverters, SMA will produce the Sunny Boy, Sunny Central and Sunny Island product lines for the North American market. SMA, the Etkin Johnson Group, the State of Colorado and the City of Denver have signed agreements for the establishment of this largest production facility for solar inverters in the US.
“We will implement the successful manufacturing concepts already employed in Germany, in our new US production. This will ensure maximum flexibility in the production of our solar inverters”, explains Uwe Hertel, Senior Vice President of Production at SMA.
The premises and buildings for the new one gigawatt production facility have been rented long-term. Additionally, an option for additional space has been negotiated with the Etkin Johnson Group, a Denver based real estate developer, and Forest City Enterprises in order to be prepared for further growth of the US photovoltaic market.
“In the medium term, we expect the US market to become the largest solar market globally”, says Günther Cramer, Chief Executive Officer of SMA Solar Technology AG. “With the new production in Denver, SMA will be able to reduce transportation and interim storage costs as well as currency exchange risks.”
In the near future, SMA will employ a staff of 700 (including temporary employees) in Denver. Production is planned to begin around the middle of 2010. The investment for the new production line and building enhancements is estimated at around 15 million Euros.
Denver will become the first international production site for SMA. “Our headquarters for production, as well as research and development, will remain in Niestetal and Kassel, in Germany. There, with the recent inauguration of the world’s largest inverter factory, which boasts a production capacity of four gigawatts per year, we are clearly showing our commitment to the high-tech location Germany”, emphasizes Günther Cramer. “With the construction of that factory alone, 1,000 new jobs were created this year and we will continue to develop that site.”
The SMA Group generated sales of more than 680 million Euros in 2008 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 represented by foreign subsidiaries in eleven countries on four continents. The Group employs a staff of over 3,500 (incl. temporary employees). SMA’s product portfolio includes the most comprehensive range of inverters on the market, offering a compatible inverter for every type of photovoltaic module 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.
SMA Solar Technology AG
Head of Press and Association Work
Phone +49 561 9522-11 21
Fax +49 561 9522-11 03
SMA Solar Technology AG
Fax +49 561 9522-22 23
Anna Raudszus (Institutional Investors/Analysts)
Phone +49 561 9522-22 22
Julia Damm (Private Investors)
Phone +49 561 9522-11 64
This press release serves only as information and does not constitute an offer or invitation to subscribe for, acquire, hold or sell any securities of SMA Solar Technology AG (the "Company") or any present or future subsidiary of the Company (together with the Company, the "SMA Group") nor should it form the basis of, or be relied upon in connection with, any contract to purchase or subscribe for any securities in the Company or any member of the SMA Group or commitment whatsoever. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This press release can contain future-oriented statements. Future-oriented statements are statements which do not describe facts of the past. They also include statements about our assumptions and expectations. These statements are based on plans, estimations and forecasts which the executive board of SMA Solar Technology AG (SMA or company) has available at this time. Future-oriented statements are therefore only valid on the day on which they are made. Future-oriented statements by nature contain risks and elements of uncertainty. Various known and unknown risks, uncertainties and other factors can lead to considerable differences between the actual results, the financial position, the development or the performance of the corporation and the estimates given here. These factors include those which SMA has discussed in published reports. These reports are available on the SMA website at www.SMA.de. The company accepts no obligation whatsoever to update these future-oriented statements or to adjust them to future events or developments.
- Greater ChinaSimplified ChineseTraditional Chinese
- Germany (Global)GermanEnglishFrenchSpanish
- Middle East & AfricaEnglish
- South AmericaSpanish
- South AsiaEnglish
- South East AsiaEnglish
- United KingdomEnglish
- United States of AmericaEnglish