Production will be shut down soon at the Gaomi plant

Oldenburg, Prenzlau, Germany, 24 September 2012. aleo solar AG [ISIN: DE000A0JM634) ends the avim solar production Co. Ltd. joint venture based in Gaomi, China. The Board of the joint venture decided to dissolve it. Production will be shut down soon at the Gaomi plant, where the joint venture produced solar modules under the brand avim with 246 employees.

"Sustainably cost-effective production is no longer possible at Gaomi due to the price drop, particularly for Chinese modules," says York zu Putlitz, CEO and CFO of aleo solar AG. "In the low-price segment, it is no longer possible to achieve adequate margins. aleo solar will supply only the premium segment in the future."

The Gaomi plant began production at the end of 2008 and its capacity by now is 90 megawatts.

The company
aleo solar AG produces and distributes premium solar modules and systems for the international photovoltaic market. Since 2009, the Bosch Group has owned a majority of the company (DE000A0JM634), which was originally founded in 2001 and has been listed on the stock exchange since 2006. The premium manufacturer currently has 1,018 employees and is represented in the key photovoltaic markets all over the world. At its plant in Prenzlau, Germany, the aleo solar Group has an annual production capacity of 280 megawatts. In 2011, the company generated a turnover of € 462 million.