- Instant market access to fast growing solar industry achieved
- Cooperation in thin-film technology targets leading market position as machine supplier
Kahl am Main, August 1, 2007 - The SINGULUS TECHNOLOGIES AG (SINGULUS), Kahl, acquires 51 % of the STANGL Semiconductor Equipment AG (STANGL), Eichenau near Munich. A corresponding agreement was signed Tuesday night. SINGULUS has an option to buy the remaining shares of STANGL from 2010. With targeted sales of EUR 30 million in 2007 STANGL is one of the globally leading suppliers of machines for the wet-chemical processes required in the areas of the photovoltaics and semi-conductor industries. Growth rates of 40 – 50 % p.a. are projected for the next couple of years.
“STANGL is the first acquisition beyond our traditional work area of optical disc production equipment. STANGL is a highly profitable company, enabling us instant access to the strategically very important market of the booming solar industry�, comments Stefan A. Baustert, Chief Executive Officer of the SINGULUS TECHNOLOGIES AG.
The purchase price for 51 % of the shares amounts to EUR 43.8 million and is a combination of a cash and a stock component: The shares will be issued from the authorized capital, which SINGULUS will use with approximately 25 % for the transaction. The exact data will be available after the expected closing in September.
STANGL was founded in 1988 as an equipment producer for the semi-conductor industry and has been producing equipment for the solar cell production for the past five years. The company manufactures production equipment for silicon solar cells as well as for thin-film solar cells. Over the years the company with headquarters in Eichenau near Munich has shown a continuous growth in sales and earnings through new technologies with its approximately 100 employees.
SINGULUS itself is now also engaged as an equipment supplier to the solar industry with this acquisition. SINGULUS already expects the acquisition to make a significantly positive earnings contribution in 2007. STANGL is expected to continue its dynamic growth and against this backdrop will still hire up to 50 additional qualified employees this year.
SINGULUS will commence a development project in Kahl and thereby produce its own vacuum coating equipment for solar cells in combination with the equipment of STANGL by mid-2008. The goal is to advance to a globally leading position for production lines for solar cells in the next couple of years.
After the acquisition of STANGL SINGULUS will consistently expand these activities and develop additional new work areas in the coming months and years. A large market potential as well as the proximity to SINGULUS’ competencies are the essential factors in examining expansion opportunities. The acquisition is part of SINGULUS’ growth strategy, which targets increasing sales and earnings contribution through the expansion of SINGULUS' competence in the segment thin-film technology and through strategic acquisitions.