SCHOTT Solar AG
SCHOTT Solar AG calls off IPO at this time
SCHOTT Solar AG / IPO Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- SCHOTT Solar AG calls off IPO at this time • Dramatic deterioration in the capital market environment • Funding of growth plans secured even without stock market listing Mainz, 8 October 2008 – SCHOTT Solar AG together with SCHOTT AG and the Joint Global Coordinators and Joint Bookrunners, Commerzbank, Deutsche Bank and J.P. Morgan have decided to call off the planned IPO at this time. The decision was prompted by the dramatic deterioration in international capital market conditions in the past days. SCHOTT Solar AG will nevertheless continue to pursue its growth plans, whose funding will be secured by SCHOTT AG. 'Investors’ thoroughly positive feedback has shown us that we have the right business model and are implementing the right strategy. It was impossible to foresee the dramatic deterioration in the capital market environment, which makes a successful IPO impossible at this stage for all parties involved. Regardless of this decision we will continue to push ahead with our expansion plans,' said Dr. Martin Heming, CEO of SCHOTT Solar AG. The company plans to significantly expand its activities in the two fast-growing business units, Concentrated Solar Power (CSP), where SCHOTT Solar sees itself as the market and technology leader, and Photovoltaics (PV). For this purpose, investments in research and development and the expansion of the production capacity in Europe and the USA are planned. In the company’s opinion, the USA is a particularly important future market for solar energy. The recent extension and expansion of the Investment Tax Credits (ITC), which are granted by the US government to promote renewable energies, is expected to provide positive stimulation in the long term. Apart from the secure growth plans, the company’s recent operating performance also allows for a positive outlook. 'We have reached our targets fully according to plan and have thus laid the foundation for our future growth. We want to continue this positive performance in the future. Once the capital market environment has settled on a sustained basis, we will consider the next steps,' said Dr. Martin Heming. * * * * NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN AND AUSTRALIA. * * * * This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in SCHOTT Solar AG (the 'Shares') may not be offered or sold in the United States of America or to or for the account or benefit of 'U.S. persons' (as such term is defined in Regulation S under the Securities Act of 1933, as amended (the 'Securities Act')) absent registration or an exemption from registration under the Securities Act. The Shares have not been and will not be registered under the Securities Act. No offer or sale of securities is being made to the public outside Germany. In Germany, the offer is made exclusively by means of and on the basis of the German language Offering Memorandum. The German language Offering Memorandum (including its supplements) is available free of charge on the Company's website www.schottsolar.de. On request, it may also be obtained in printed form from the Company (Hattenbergstr. 10, 55122 Mainz) and Commerzbank AG, Kaiserstraße 16 (Kaiserplatz), 60311 Frankfurt/Main, Deutsche Bank AG, Grosse Gallusstraße 10-14, 60311 Frankfurt/Main, J.P. Morgan Securities Ltd., Junghofstraße 14, 60311 Frankfurt/Main, and Landesbank Baden-Württemberg, Am Hauptbahnhof 2, 70173 Stuttgart, during the regular business hours. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the 'Order') or (iii) high net worth companies and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as 'relevant persons'). The securities are only available to, and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. About SCHOTT Solar AG: SCHOTT Solar’s high quality products exploit the virtually inexhaustible potential of the sun as a renewable source of energy. For this purpose SCHOTT Solar produces important components for photovoltaic applications and solar energy plants with parabolic trough technology. In the photovoltaic industry, the company is one of the few integrated manufacturers of crystalline silicon wafers, solar cells and photovoltaic modules. Wafer production is mainly carried out through a WACKER SCHOTT Solar joint venture, which ensures the supply of silicon necessary for long-term growth. Thanks to over 20 years of experience in thin-film technology, SCHOTT Solar also regards itself as one of the industry’s cutting-edge companies. In receiver production for solar power plants with parabolic trough technology, SCHOTT Solar considers itself to be the market and technology leader. The receivers are key components in large-scale power plants that generate electricity from solar energy centrally on the basis of parabolic trough technology and can supply entire cities with power. SCHOTT Solar has production facilities in Germany, the Czech Republic, the USA and Spain. SCHOTT Solar’s innovative power and technological expertise date back to the late 1950s. Main shareholder of SCHOTT Solar AG is SCHOTT AG, Mainz. SCHOTT develops special materials, components and systems for the household appliance, pharmaceutical, solar energy, electronics, optical and automotive industries. With around 16,700 employees, the SCHOTT Group generated a worldwide turnover of about EUR 2.1 billion in fiscal year 2006/2007. Contact: Haubrok Investor Relations Simone Gorny Tel.: +49 (211) 30126-130 E-Mail: s.gorny@haubrok.de 08.10.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: SCHOTT Solar AG Hattenbergstraße 55122 Mainz Deutschland Phone: +49 (0) 6023 / 91-05 Fax: +49 (0) 6023 / 91-1700 E-mail: ir.schottsolar@haubrok.de Internet: www.schottsolar.com ISIN: DE000A0RAS03 WKN: A0RAS0 Listed: Regulierter Markt in Frankfurt (Prime Standard) Notierung vorgesehen / designated to be listed End of News DGAP News-Service ---------------------------------------------------------------------------
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