SOITEC : SOITEC DIVESTS ITS SOLAR SYSTEM BUSINESS TO REFOCUS ON ITS CORE SEMICONDUCTOR ACTIVITIES

Soitec Divests its Solar System Business to Refocus on its Core Semiconductor Activities Bernin (Grenoble), France, May 21st, 2015 - Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics and energy industries, today announced a definitive agreement with ConcenSolar, a privately held company and a business partner of concentrator photovoltaic (CPV) leader Suncore Photovoltaic Technology Co Ltd, to divest its solar system business...

 

 

Soitec Divests its Solar System Business to

Refocus on its Core Semiconductor Activities

 

 

Bernin (Grenoble), France, May 21st, 2015 - Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials for the electronics and energy industries, today announced a definitive agreement with ConcenSolar, a privately held company and a business partner of concentrator photovoltaic (CPV) leader Suncore Photovoltaic Technology Co Ltd, to divest its solar system business.

 

Today, Soitec sells its solar system business to ConcenSolar, including all technology assets, manufacturing operations in Freiburg, Germany and San Diego, U.S.A. Soitec shall retain for future disposal certain other assets, including the ownership interests in certain solar power plants. Soitec will continue to develop and bring to the market, based on its existing industrial capacity, a four-junction solar cell (or "Smart Cell(TM)") characterized by its world record efficiency.

 

"As announced in the press release dated January 19^th, 2015, our Board of Directors unanimously decided to implement a strategic plan, which aims at refocusing Soitec's activities on its core semiconductor business", says Paul Boudre, Soitec's Chief Executive Officer. "This agreement represents a key milestone for Soitec and a reinforcement of our core semiconductor business".

 

"Soitec's CPV solar modules represent the most advanced technology with proven reliability and project bankability, as well as competitive cost structure due to production automation and high-efficiency performance," said Dr. Charlie Wang, CEO, ConcenSolar. "Combining our experience of solar project development and financing capability from our established financing partners, this acquisition further strengthens our position to provide the most cost-effective solar power solutions for our utility-scale customers."

 

Subject to regulatory approvals and other customary closing conditions, Soitec expects the transaction to close in the third quarter of calendar year 2015. Financial terms of the deal were not disclosed.

 

Agenda

Soitec will publish on May 28^th (before the opening of the Paris Stock Exchange) its financial results for the fiscal year ending March 31^st, 2015.

 

About Soitec:

Soitec (Euronext, Paris) is a world leader in designing and manufacturing high performance semiconductor materials. The company uses its unique technologies and semiconductors expertise to serve the electronics and energy markets. With 3,600 patents worldwide, Soitec's strategy is based on disruptive innovation to answer its customers' needs for high performance, energy efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D centers and offices in Europe, US and Asia. For more information, please visit www.soitec.com.  

 

For all information, please contact:

Investor Relations Contacts Olivier Brice +33 (0)4 76 92 93 80 [email protected]	Steve Babureck +1 858 519 6230 / +33 (0)6 16 38 56 27 [email protected]
Media Contacts Business Press: Marylen Schmidt +33 (0)6 21 13 66 72 [email protected]	Trade Press: Camille Dufour +33(0)6 79 49 51 43 [email protected]

 

Copyright GlobeNewswire

Attachment(s)
http://hugin.info/143589/R/1923300/689701.pdf

Regulatory News
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: %s via Globenewswire


[HUG#1923300]