Solar Technology AG will strengthen its presence in North America with the foundation of a subsidiary in Canada.
Niestetal, March 9, 2010 - SMA Solar Technology AG (Frankfurt Stock Exchange: S92) is to strengthen its presence in North America with the foundation of a subsidiary in Canada. The site will be selected during the course of the first half of 2010. The initial investment volume is between € 5 and 10 million. SMA solar inverters from the Sunny Boy, Sunny Central and Sunny Island product ranges are to be produced for the Canadian market. Sales and services are also to be bundled together into the company. SMA is planning to create 100 to 200 jobs on site in the medium term.
The province of Ontario in Canada offers an outstanding framework for the development of a sustainable photovoltaic market. The recently implemented support programme, combined with above-average solar radiation, creates a strong incentive for investment in photovoltaics. For manufacturers of photovoltaic components, the programme comprises of a call for local content. The goal of this call is the creation of high-quality jobs in a sector geared to the future.
"We support this call for local content and are meeting this requirement with the establishment of a production facility there," explains Günther Cramer, Chief Executive Officer at SMA Solar Technology AG. "Ontario's support programme is a guiding light and, according to our evaluation, of the potential in inspiring other Canadian provinces to follow suit."
In parallel, the SMA Group is also increasing production capacity at the sites in Kassel and Denver. Germany is to remain the main production and technological development area for the future. At the sites in Niestetal and Kassel, annual capacity is to be increased to around 10 gigawatts by the middle of the year through the implementation of interim solutions. Production in Denver, USA is in the initial phase, operating at an annual capacity of around 1 gigawatt, and should start production this summer.
The SMA Group generated sales of c. 934 million Euro in 2009 and is the worldwide market leader for photovoltaic inverters, a key component of all solar power plants. It is headquartered in Niestetal, near Kassel, Germany, and is represented on four continents by 13 foreign subsidiaries. The Group employs a staff of over 4,000 (incl. temporary employees). SMA's product portfolio includes the most comprehensive range of inverters on the market, offering a compatible inverter for every type of photovoltaic module and for all plant sizes. The product range covers both inverters for photovoltaic plants connected to the grid as well as inverters for off-grid systems. Since 2008, the Group's parent company SMA Solar Technology AG has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and also in the TecDAX index. In recent years, SMA has received numerous awards for its excellence as an employer.
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