SOLON AG becomes a European Company (SE)
This makes SOLON one of six companies from the Regulated Market (Prime Standard) of the German Stock Exchange to adopt the legal form of the European Company to date. It has been possible to do so since the end of 2004.
The Annual Shareholders' Meeting approved the conversion to a European Company by a wide majority on June 24, 2008. At the start of November, worker representatives and the SOLON Management Board signed a related employee-management agreement.
"SOLON is an internationally operating company," stated CEO Thomas Krupke. "As a European Company, we will be able to operate as a single legal entity within the EU together with our subsidiaries in Germany, Austria, and Italy. This will facilitate cross-border transactions and strengthen our position in the European market."
SOLON SE (ISIN DE0007471195) is one of the largest solar module manufacturers in Europe and a leading supplier of photovoltaic systems for large-scale solar power plants. The SOLON Group has subsidiaries in Germany, Austria, Italy, Switzerland, and the U.S. and employs more than 850 people worldwide. The SOLON Group's core business is the manufacture of solar modules in various performance categories and of complete photovoltaic systems for the construction of solar power plants as well as the construction of turn-key solar power plants worldwide.