DGAP-News

SolarWorld AG focuses on its production sites in Germany and the US

DGAP-News: SolarWorld AG / Key word(s): Miscellaneous
SolarWorld AG focuses on its production sites in Germany and the US

29.06.2011 / 17:11

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SolarWorld AG focuses in its further growth on its production sites in
Germany and the US. Its shares in the Joint Venture production site in
South Korea were sold at a profit today. Thus, the German manufacturer of
premium solar power modules has specifically decided in favor of production
at locations with the highest quality, environmental and social standards.
The capacities of the group in Freiberg/Saxony and in the US production
locations at Camarillo/California and Hillsboro/Oregon are currently being
expanded. By the end of the year, the combined module production there will
be ramped up to a total production capacity of more than one Gigawatt.

´We are consistently continuing our strategy of making our premium product
and premium locations´, says Chairman and CEO of SolarWorld AG, Dr.-Ing.
E.h. Frank Asbeck: ´A solar power system is an investment for generations.
We guarantee 25 years of reliable output. But the life of our solar power
systems is far longer. That cannot be guaranteed if you rely on a low-cost
location´.

SolarWorld AG is thus differentiating itself from many competitors who are
moving their production to Asia because of allegedly lower wage costs.
SolarWorld AG reaches its continuous cost reduction with the help of the
most advanced equipment, highly automated manufacturing processes and
optimum logistics. The share of labor costs in the SolarWorld high-tech
products amounts to less than ten percent and is thus not the crucial cost
factor. Dr.-Ing. E.h. Frank Asbeck: ´In this respect we prefer to rely on
top specialists at top locations to attain our top SolarWorld quality.´

In view of constantly declining product costs it is especially the
transport costs that are getting more and more important. On the way from
Asia to Europe and to the US these are substantially higher than the other
way round which international container vessels frequently travel empty.
This is why SolarWorld AG will supply solar power technology to the growing
Asian market out of the US and Germany via SolarWorld Asia
Pacific/Singapore in the future.

The company expects the largest sales growth in the US this year. ´Thanks
to the logistics advantages of our on-the-spot production and our already
established distribution networks we expect to be able to more than triple
our sales´, explains Dr.-Ing. E.h. Frank Asbeck. The current sales figures
confirm this trend. Thus, the group´s sales in the US market by June this