SolarWorld AG focuses on its production sites in Germany and the US29-06-11
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 year already match total annual sales of the previous year. At the same time the group is expecting an impetus for the European markets in view of the current legislation to fund renewable energies in Germany and the other European countries. Dr.-Ing. E.h. Frank Asbeck: „People want to generate their own power in the future, solar power for self-consumption – clean and cost-efficient with the power of the sun. To this end they need reliability and quality. And that is precisely what we deliver to them – made in Germany and made in the US”.
About SolarWorld AG:The SolarWorld AG Group (ISIN: DE0005108401) is a worldwide leader in offering brand-name, high quality, crystalline solar power technology. Its strength is its fully integrated solar production. From silicon as the raw material through wafers, cells and modules all the way to turn-key solar systems of all sizes, the group combines all stages of the solar value chain. The central business activity is selling quality modules into the installation and distribution trades and crystalline wafers to the international solar cell industry. Group headquarters are located in Bonn, Germany. The group´s largest production facilities operate in Freiberg, Germany and Hillsboro in the U.S. State of Oregon. Sustainability is the basis of the group strategy. Under the name Solar2World, the group supports care projects using off-grid solar-power solutions in developing countries, exemplifying sustainable economic development. Worldwide, SolarWorld employs more than 3,600 people. SolarWorld AG has been quoted on the stock exchange since 1999 and today is listed on, among others, the TecDAX and ÖkoDAX as well as in the sustainability index NAI.