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Gebr. Schmid purchases shares in SierraTherm
At the end of 2008, Gebr. Schmid GmbH + Co. concluded an agreement to become the majority shareholder in SierraTherm Production Furnaces, Inc. of Watsonville, CA, USA.
Gebr. Schmid was founded in 1864 in Freudenstadt, Germany, as an iron foundry and mechanical workshop. Schmid develops and produces equipment in three business sectors -- solar and photovoltaics, printed circuit boards and flat panel displays -- in state-of-the-art facilities in 13 locations worldwide, of which 3 locations are in Germany. In the photovoltaic sector Schmid is now the global market leader, supplying production equipment for wafer production, cell production, and module assembly -- from individual equipment to complete turnkey factories. Schmid has approximately 1,800 employees worldwide. The company's sales volume was 400 million Euros in 2008.
SierraTherm Production Furnaces, Inc. is headquartered in Watsonville, CA, USA and manufactures a wide variety of thermal processing and APCVD thin film deposition equipment for both the electronics industry as well as for solar cell production. SierraTherm was founded in 1992 and is a world leader in the design and manufacture of innovative, precisely controlled conveyor furnaces. Approximately 140 SierraTherm employees work at the headquarters in Watsonville, CA.
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