DGAP-Adhoc
Manz AG enters into strategic cooperation and receives orders with a volume of EUR 263 mn for CIGS solar turnkey lines
DGAP-Ad-hoc: Manz AG / Key word(s): Alliance/Incoming Orders
Publication of insider information in accordance with Article 17 Paragraph |
Manz AG enters into strategic cooperation and receives orders with a volume
of EUR 263 mn for CIGS solar turnkey lines
Reutlingen, January 23, 2017 - Today, Manz AG, Reutlingen, (ISIN:
DE000A0JQ5U3) has entered into a strategic cooperation with Shanghai
Electric Group Co., Ltd. and Shenhua Group Co., Ltd., two of the leading
Chinese companies from the energy sector. The cooperation is aimed at a
sustainable further development and commercialization of Manz AG's CIGS
thin-film technology.
Part of the cooperation is the establishment of a jointly owned R&D company
in order to accelerate the further development of the Manz CIGS technology.
The current R&D entity for CIGS from Manz AG, the Manz CIGS Technology
GmbH, will be aquired by the new R&D Joint Venture for EUR 50 million. In
return, Manz AG becomes shareholder of the R&D Joint Venture with 15% for
an amount of EUR 25 million.
Furthermore, the contractual partners of Manz AG have placed purchase
orders for CIGSfabs worth EUR 263 million. Revenues and earnings from these
purchase orders will affect revenues and earnings during the financial
years 2017 and 2018. Due to corresponding down payment agreements, these
orders will be realized cash flow positive. The contracts are subject to
approvals of governmental authorities in China.
Additional information:
ISIN: DE000A0JQ5U3
WKN: A0JQ5U
Ticker symbol: M5Z
Market segment: regulated market (Prime Standard) of the Frankfurt Stock
Exchange
Manz AG
Steigäckerstrasse 5
72768 Reutlingen, Germany
Germany
< End of the Ad-hoc Announcement>
Investor Relations Contact
cometis AG
Claudius Krause
Tel.: +49 (0)611 - 205855-28
Fax: +49 (0)611 - 205855-66
E-mail: krause@cometis.de
Manz AG
Axel Bartmann
Tel.: +49 (0)7121 - 9000-395
Fax: +49 (0)7121 - 9000-99
E-mail: abartmann@manz.com
23-Jan-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |
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538501 23-Jan-2017 CET/CEST