SOLON Sells Stake in Solland Solar Energy

Berlin, Germany [] SOLON AG has sold its stake of 13.07 percent in Dutch solar cell producer Solland Solar Energy Holding B.V. to two Dutch investors. SOLON expects sales proceeds of approximately Euro 10 million [US$13 million] from the sale of its shares. The company plans to use these proceeds for new strategic investments. At the same time, SOLON has renewed its cell supply contract with Solland, intensifying the business relations between the two companies that have existed since 2004. The contract stipulates that Solland will supply SOLON with solar cells in a total volume of at least Euro 400 million [US$520 million] by 2015.
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