Acquisition of Bosch Solar Plants in Europe Beefs Up SolarWorld’s Production Strength

  Acquisition of Bosch Solar Plants in Europe Beefs Up SolarWorld’s Production
  Strength

Deal puts SolarWorld capacity over 1 GW, in world’s top 10

Business Wire

HILLSBORO, Ore. -- November 26, 2013

SolarWorld AG, parent company of SolarWorld Industries America Inc., will take
over much of Bosch Solar Energy, boosting SolarWorld’s annual global
production capacity over 1 gigawatt at all key production phases, the company
announced today. Expected to be completed by late February, the acquisition
will lift the company’s world capacity into the world’s top 10 and bolster its
status as the largest crystalline-silicon solar producer outside of the
People’s Republic of China.

The acquisition of Bosch’s cell and manufacturing in Arnstadt, Germany, will
heighten the company’s scale efficiencies, diversify its product offerings and
usher in opportunities for inter-site research and development, according to
SolarWorld. The company will operate major sites concentrating on three
product categories: poly-crystalline cells and modules in Freiberg, Germany,
mono-crystalline cells and modules in Arnstadt and advanced-technology,
high-wattage cells and modules in Hillsboro, the company’s hub for the
Americas. Combined, the sites will possess capacities exceeding 1 GW each for
wafers, cells and modules.

The company will acquire Bosch’s solar assets, including about 800 employees,
without diminishing its financial resources. The announcement comes as
SolarWorld prepares to finalize a debt- and organization-restructuring process
that has spanned 2013. The newly formed SolarWorld Industries-Thüringen GmbGH
will operate the Arnstadt facilities.

SolarWorld said the capacity expansion and diversification further enable
SolarWorld, already the world’s technology leader, to better contend with the
market-distorting effects of solar-industry turmoil stemming from the Chinese
government’s intervention in American markets through illegal trade
aggression. SolarWorld won U.S. anti-dumping and anti-subsidy trade cases
against China’s state-sponsored industry, the company said, but Chinese
companies have used a loophole in the trade remedies to continue their illegal
trade practices.

“Thanks to our technology leadership, our product reliability and quality and
now the expansion of our production capacities, SolarWorld is weathering the
industrial wreckage that continues to accompany China’s green-energy
mercantilism,” said Mukesh Dulani, president of SolarWorld Industries America
Inc., based in Hillsboro. “Meantime, the value of SolarWorld’s high product
and production standards to back solar solutions guaranteed to perform for
decades is becoming increasingly clear within our markets.”

About SolarWorld

SolarWorld AG manufactures solar power systems and in doing so contributes to
a cleaner energy supply worldwide. The company, located in Bonn, employs
approximately 2,500 people and carries out production in Freiberg, Germany,
and Hillsboro, Ore. From raw material silicon to the solar module, SolarWorld
manages all stages of production ‒ including its own research and development.
Through an international distribution network, SolarWorld supplies customers
all over the world with solar modules and complete systems. The company
maintains high social standards at all locations across the globe, and has
committed itself to resource- and energy-efficient production. SolarWorld has
been publicly traded on the stock market since 1999. More information at
www.solarworld-usa.com.

Contact:

SolarWorld Industries America Inc.
Ben Santarris
Head of Corporate Communications
Office: 503-693-5189
Mobile: 503-927-9858
Ben.Santarris@SolarWorld-USA.com
 
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