DGAP-Ad-hoc: Renewable energy sources: BayWa goes to the USA
BayWa AG / Key word(s): Acquisition
29.12.2010 08:31
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Renewable energy sources: BayWa goes to the USA
International trading group BayWa AG, Munich, is entering the US market
through its BayWa r.e GmbH subsidiary, in which it bundles its renewable
energies business operations. Recently-formed BayWa r.e U.S. LLC, a
wholly-owned BayWa r.e GmbH subsidiary, has now acquired an 80 percent
stake in US company Focused Energy, Santa Fe in New Mexico. The purchase
price is around EUR 13 million on a cash-and-debt free basis.
As a premium provider in the photovoltaic (PV) system integration area in
the USA, Focused Energy supplies installation engineers, particularly in
the core markets of Arizona, California, Pennsylvania, New Mexico and
Hawaii. The product range includes high-quality PV modules, inverters and
mounting systems. With its 14 staff members, Focused Energy will have
prospectively achieved revenue of USD 43 million and a significantly
positive EBIT of around USD 4 million in the 2010 financial year.
This acquisition is allowing BayWa to make a successful entry into the
high-growth US market for photovoltaic systems. As a consequence, the
company is establishing access to one of the most attractive growth markets
for this area outside Europe. This acquisition represents a further
important step towards the implementation of BayWa's growth strategy for
renewable energy sources, which are to generate EUR 1 billion per year for
the BayWa Group over the medium-term.
BayWa Aktiengesellschaft, Arabellastraße 4, D - 81925 München, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005
Contact:
Marion Danneboom, BayWa AG, Head of PR/Corporate Communication,
tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98,
e-mail: marion.danneboom@baywa.de
29.12.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: BayWa AG
Arabellastraße 4
81925 München
Deutschland
Phone: 089/ 9222-3691
Fax: 089/ 9222-3698
E-mail: presse@baywa.de
Internet: www.baywa.de
ISIN: DE0005194062, DE0005194005,
WKN: 519406, 519400,
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
Stuttgart
End of Announcement DGAP News-Service
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