Electromagnetic-Component Manufacturer to Operate as Independent Subsidiary
Niestetal, Germany/Zabierzów, Poland, June 14, 2011 – SMA Solar Technology AG (SMA/FWB: S92) signed a purchase agreement to acquire dtw Sp.z o.o., one of Poland's largest manufacturers of electromagnetic components, in Krakow today. The transaction is expected to be closed in July 2011 under the usual reserves. In acquiring one of its longtime suppliers, SMA is securing its position as a technology leader in the area of solar inverters. dtw specializes in making technologically innovative core components for manufacturing inverters, such as inductors, coils and toroidal transformers.
"The acquisition of dtw is an important strategic step in expanding the technological leadership of SMA," explains CEO Pierre-Pascal Urbon. "It allows us to more effectively coordinate the development processes of mechanics, electromagnetic components and power electronics while also significantly reducing development times. The acquisition provides a great way to further distinguish ourselves from competitors in the future."
SMA and dtw have been close business partners for about 10 years. As one of the main suppliers of electronic components, dtw has always succeeded in facilitating the technological development of SMA with components of extraordinary quality and setting new technological standards. Within the SMA Group, dtw will operate as an independent subsidiary and global competence center for electromagnetic components.
"We have worked on building and expanding dtw with great passion over the years. Our acquisition by SMA will help ensure a stable future for the company. We are very happy that our management board stands in full support of the transaction and will play a major role in the continuing development of dtw," says company founder Stefan Domagała. "With SMA as an internationally established partner at our side, we will be able to expand our successful business on a global scale."
Stefan Domagała will continue to drive the research and development efforts of dtw and work in close cooperation with SMA developers. A number of development projects will focus on magnetic materials that are based on new types of alloys and high-frequency transformers that are optimized for high performance and low weight. Wife and co-founder Izabella Domagała will assist the integration of dtw and SMA in an advisory role.
"Stefan and Izabella Domagała have built a great company with highly motivated employees," adds Urbon. "We are very much looking forward to working together even closer with this outstanding team."
SMA will continue the complex manufacturing of electromagnetic components in the modern production facilities of dtw in Zabierzów. SMA inverter production will stay exclusively at its headquarters in Niestetal/Kassel as well as at its international sites in Denver and Ontario, Canada, for the North American market.
SMA is planning a number of smaller acquisitions with the goal of optimizing the value and supply chain and advancing its position as a technology leader in the future.
About dtw Sp.z o.o.
dtw Sp.z o.o. is a leading manufacturer of technologically innovative electronic components and is based in Zabierzów/Krakow, Poland. Founded in 1991 by Stefan and Izabella Domagała, the company currently has around 530 employees (including temporary staff). dtw has experienced strong growth over the past few years and achieved € 74 million in sales in 2010. The company is known for its high-quality products and excellent research and development work.
The SMA Group generated sales of EUR 1.9 billion in 2010 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 17 foreign companies. In 2010, the Group employed a staff of over 5,000 (incl. temporary employees). SMA's product portfolio includes the most comprehensive range of inverters on the market, offering a compatible inverter for every module type 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 and lately reached first place in the federal "Great Place to Work" competition.
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