Centrosolar Creates South Europe Units to Boost Sales

Centrosolar AG, a German provider of solar systems for homes and businesses, said it set up units in Southern Europe to increase sales in countries that have more sunlight.

The Munich-based company opened units in Italy, Greece, Spain and France, it said today in a statement distributed by DGAP Newswire. Centrosolar last week said it formed a U.S. unit based in Phoenix.

``The Southern European market represents untapped potential with growth rates forecast to run into three figures,'' the company said in the statement. ``Yearly levels of sunlight are as much as twice the level in Germany.''

The company plans to export 50 percent of its products this year compared with 30 percent last year.

Shares of Centrosolar slipped 8 cents, or 0.7 percent, to 10.84 euros. They have risen 15 percent this year, compared with a 1.7 percent gain on Germany's benchmark DAX Index.

To contact the reporter on this story: Chris Staiti in London at cstaiti@bloomberg.net

To contact the editor responsible for this story: Victoria Richards in London at vrichards@bloomberg.net

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