SOLON completes acquisition of Italian start-up company Estelux

(PresseBox) (Berlin, ) SOLON SE, Berlin, Germany, has increased its equity investment in the Italian start-up company Estelux s.r.l. to 100 percent. In June 2008, SOLON had initially purchased a strategic interest of 19.5 percent. The shares are held by SOLON's Italian subsidiary SOLON S.p.A.

Estelux, founded in 2007, plans to establish a plant for the production of solar silicon in Ferrara, northern Italy. The plant shall have an initial annual capacity of 4,000 tons by the end of 2010. The site is ready for construction, with preliminary activities already started and detail engineering ongoing.The total investment volume amounts to approx. EUR 400 million. Additional investors shall be contacted after the necessary construction permit expected for the first quarter of 2009 has been received.

The purpose of this strategic investment is to broaden SOLON's supply base for raw materials and to secure the company's long-term access to additional volumes of solar silicon and solar cells.

SOLON SE

SOLON SE 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.

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