Solar-Fabrik AG to Produce Solar Cells

Freiburg, Germany [] Solar-Fabrik AG signed a letter of intent for a holding in Solar Energy Power Pte Ltd. (SEP) of Singapore. Once the purchase agreement has been fulfilled, Solar-Fabrik AG will hold a third of the shares of SEP via its newly founded 100% subsidiary company, Services Pte Ltd. of Singapore. Solar-Fabrik AG is expanding its value chain to include solar cell production, thus becoming an integrated solar corporation as planned. In mid-2005, SEP was founded with a cell production capacity of 10 MW; it began production in March of 2006. By the end of 2007, capacity is to be expanded to 25 MW. Solar-Fabrik will supply SEP with wafers via the Group’s subsidiary Global Expertise Wafer Division Ltd. SEP has its own supplies of raw materials. This takeover will already contribute approximately an additional 500,000 EUR to Solar-Fabrik AG’s profit in 2006.
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