Meyer Burger Technology AG — M&A Activity 2009

Feb 23, 2009

News Details

Ad-hoc | 23 February 2009 16:14

Roth & Rau AG plans entry into thin film technology based on cadmium telluride

Roth & Rau AG / Acquisition

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Roth & Rau AG plans entry into thin film technology based on cadmium
telluride
- Acquisition of CTF Solar GmbH
- Market launch of turnkey production lines planned by end of 2009

Hohenstein-Ernstthal, 23 February 2009 - Roth & Rau AG has acquired all of
the shares in CTF Solar GmbH, Kelkheim, from the management and the
investment company Murphy&Spitz Green Capital AG based on a share purchase
and assignment contract dated today. A purchase price in a single-digit
million euro range has been agreed and is dependent on the achievement of
contractually specified target agreements by 2012.

CTF Solar GmbH has the expertise to produce turnkey production lines for
use in the manufacture of thin film solar modules based on cadmium
telluride (CdTe solar modules). Roth & Rau plans to offer CdTe turnkey
production lines as a general contractor in future, drawing in the process
on its extensive experience with crystalline solar technology turnkey
lines. Roth & Rau will not only be responsible for the project management,
but will also produce the coating facilities required for the deposition of
the cadmium telluride. These are not only a key component in the overall
production process, but also account for around 58 %, and thus the largest
share, of the investment costs for the overall production line.

This acquisition of strategic expertise will provide Roth & Rau with a
unique selling point in the thin film market and enable the company to
significantly expand its business model. There are currently no equipment
suppliers providing CdTe coating facilities or complete turnkey solutions
in this area. The market launch of the turnkey production lines is
scheduled to take place before the end of 2009 already.

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Information and Explaination of the Issuer to this News:

'Accessing new sales markets and diversifying our business models are two
of the main focuses of our growth strategy,' commented Dr. Dietmar Roth,
CEO of Roth & Rau AG. 'By acquiring CTF Solar GmbH and the related
expertise, we will gain entry into the rapidly growing thin film market. We
are deliberately focusing on CdTe thin film technology, as this optimally
meets the market's need for low production costs coupled with competitive
efficiency levels, and thus harbours enormous growth potential.'

Initial negotiations with potential customers for this type of production
facility have shown that there is great demand in the market both for CdTe
coating facilities and for turnkey production lines. This is mainly due to
the benefits offered by CdTe technology, which is characterised by
extremely low production costs of around EUR 1.00/Wp (per Watt peak) and is
thus markedly less expensive than most other thin film technologies. The
investment outlay required also reveals substantial benefits compared with
alternative thin film technologies. Not only that, CdTe modules show
comparatively high levels of efficiency of more than 10 % in production and
up to 17 % in laboratory conditions. Furthermore, these modules only lose a
small degree of their efficiency in the event of high temperatures or low
solar irradiation, and also have high energy efficiency (energy payback
time) of ten months. This is taken as the time required for the solar cell
or module to generate the energy expended on its manufacture.

About Roth & Rau AG:
Roth & Rau AG based in Hohenstein-Ernstthal (ISIN DE000A0JCZ51) is by
market share one of the world's leading suppliers of plasma process systems
for the photovoltaics industry. Furthermore Roth & Rau supplies components
and process systems based on plasma and ion beam technology for other
sectors. Developed by Roth & Rau, these products are manufactured and
distributed worldwide through the company's photovoltaic and plasma and ion
beam technology divisions. Roth & Rau's photovoltaic division focuses on
providing antireflective coating facilities as well as fully automated
manufacturing lines (turnkey production lines) for the production of
crystalline silicon solar cells. Another focus is on the production of
equipment for the coating of thin film solar modules. The plasma and ion
beam technology division, which accounted for 6 percent of total sales in
the 2007 financial year, produces plasma sources and ion beam sources as
well as process systems for plasma and ion beam enhanced thin film and
surface processing methods. Customers served by this division include, in
particular, companies in the semiconductor and automotive industries, R&D
departments in various industries including photovoltaics as well as
research institutes and universities. Roth & Rau AG posted sales of EUR 146
million and EBIT of EUR 14 million pursuant to IFRS for the 2007 financial
year and had an average of 190 employees. Sales in the first nine months of
the year amounted to EUR 197 million, with EBIT coming in at EUR 21
million.

Contact:
Roth & Rau AG
Dr. Silvia Roth
Phone: +49 (0) 3723/6685-333
E-mail: investor@roth-rau.de

Haubrok Investor Relations GmbH
Simone Gorny
Phone: +49 (0) 211/30126-130
E-mail: s.gorny@haubrok.de
23.02.2009 Financial News transmitted by DGAP

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Language: English
Issuer: Roth & Rau AG
An der Baumschule 6-8
09337 Hohenstein-Ernstthal
Deutschland
Phone: 03723 6685-0
Fax: 03723 6685-100
E-mail: info@roth-rau.de
Internet: www.roth-rau.de
ISIN: DE000A0JCZ51
WKN: A0JCZ5
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf

End of News DGAP News-Service

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