SOLON AG, a Berlin-based solar manufacturer, is acquiring S.E. Project Srl, an Italian solar module manufacturer, effective January 1, 2006.
S.E. Project is a leading Italian solar manufacturer, with 10 MW of production capacity and expected 2006 revenue of EUR 80 million.
The companies have agreed to a purchase price of 500,000 shares in SOLON AG. The acquisition paves the way for SOLON to enter the Italian solar market. Italy recently signed into law a feed-in policy, which will make the country a key market.
Domenico Sartore, founder and CEO of S.E. Project, will assume key responsibilities in the SOLON Group.
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