Manz AG — M&A Activity 2011

Nov 15, 2011

News Details

Corporate | 15 November 2011 07:57

Manz plans to acquire CIGS modules innovation line from Würth Solar

Manz AG / Key word(s): Mergers & Acquisitions

15.11.2011 / 07:57

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• Consistent further development of successful cooperation: All CIGS
  licences and know-how are transferred to Manz
• Operation of innovation line accelerates CIGS technology development
• Takeover to be concluded by early 2012

Reutlingen, November 15, 2011 - Manz AG, one of the world's leading
providers of production systems for the photovoltaic and flat panel display
(FPD) industry, has signed a letter of intent to acquire the innovation
line for CIGS solar modules from Würth Solar in Schwäbisch Hall. As part of
the acquisition, Manz plans to integrate the current production site, and a
total of 116 Würth Solar employees, into its own Group. The aim is to
establish an innovation factory that focuses on the rapid further
development of already leading CIGS technology. This technology has the
potential to deliver the lowest cost per watt compared to all other
technologies, thereby optimally serving current market demands. The Centre
for Solar Energy and Hydrogen Research Baden-Württemberg (ZSW) will
continue to intensively support the R&D activities. The takeover is set to
be concluded prospectively by early 2012.

This step represents a consistent further development of many years of
successful cooperation. The line has been used to date both by Würth Solar
for CIGS module production, and by Manz as part of a licensing and
co-operation agreement for the further development of CIGS system
solutions. With this new agreement, the line is solely intended to serve
future research and development activities. This will allow the further
development of the technology to be accelerated considerably, and the
enormous cost-reduction and efficiency-enhancement potential of CIGS
technology to be fully exploited. As a consequence, Manz is making a
significant contribution to quickly reducing costs per watt - one of the
central topics in the photovoltaic industry. It will also allow the
milestones that have been planned to date to be reached earlier than
planned. These include the optimisation of manufacturing processes,
boosting efficiency, savings in terms of materials, and with them the
reduction of production costs. Manz AG is thereby exercising its pioneering
technological role in the photovoltaic industry, offering global solar
manufacturers an economically attractive production solution.

Dieter Manz, Manz AG's CEO, explains the takeover's significance for the
company: 'Operating our own research line allows us to qualify our
innovations directly in ongoing production operation. By contrast with a
conventional pilot line, our innovation line, with its capacity of up to 6
MWp, will produce significantly more solar modules, which Würth Solar will
continue to sell in the future.' Manz goes on to add: 'The agreement that
we have now reached is the right response to the solar market's
requirements. We are firmly convinced that CIGS will prevail on the market
in the medium term due to its high cost-reduction potential. Together with
Würth and the ZSW, we have developed a world record module, entailing an
aperture efficiency of 15.1% in production format, within a short period of
time. We can further accelerate development and expand our advance in
technology with the CIGS innovation line that we are creating.'

Manz is to acquire the production site without incurring any further
one-off costs. The CIGS technology licenses will also transfer to the
company on an unrestricted basis. The know-how licensing and cooperation
agreement that was concluded in 2010 will be replaced when the new contract
is concluded. Manz will adopt most of the ongoing costs for the operation
of the line to offset this. With this step, Würth Solar will focus entirely
on its core competency of selling photovoltaic systems and components, as
well as complete photovoltaic plants and turnkey solar power plants.

'In overall terms, we have developed an optimal solution to enable CIGS
technology to realise an even more rapid breakthrough. We are particularly
pleased that we will bundle our know-how with that of the employees at the
Schwäbisch Hall location, thereby setting new benchmarks as a high-tech
engineer for CIGS technology,' commented Dieter Manz.

Manz AG - passion for efficiency

Manz AG, headquartered in Reutlingen, Germany, (ISIN: DE000A0JQ5U3) is one
of the world's leading high-tech engineering firms. Founded in 1987, in
recent years the company has grown from an automation specialist into a
supplier of integrated production lines for crystalline solar cells and
thin-film solar modules, as well as lines for manufacturing flat panel
displays. One of its newest areas of business is the development and
manufacture of production systems for lithium-ion batteries. The company,
led by founder Dieter Manz, has been listed on the stock exchange in
Germany since 2006, and currently operates production facilities in
Germany, China, Taiwan, Slovakia, and Hungary. At the end of the third
quarter 2011, Manz AG had approximately 1,950 employees, 900 of which work
in Asia. With its new slogan 'Passion for Efficiency,' Manz's engineers are
making a promise to offer its customers - all companies active in important
future markets - increasingly efficient production equipment.

Investor relations contact:

cometis AG
Dominic Großmann
Tel.: +49 (0)611 - 205855-15
Fax: +49 (0)611 - 205855-66
E-Mail: grossmann@cometis.de

Public relations contact:

Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-Mail: abartmann@manz.com

End of Corporate News

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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: info@manz.com
Internet: http://www.manz.com
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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