February 20, 2013
Diehl Controls transfers its photovoltaics business
Diehl Controls, Wangen im Allgäu, subgroup of Diehl Group, Nuremberg, sells the business unit photovoltaics with effect from 1st of April 2013 to mutares Solar GmbH, a 100% subsidiary of mutares AG, Munich. mutares AG will strategically develop the photovoltaics business located in Wangen, employing 82 people.
In 2005, Diehl Controls entered the pholtovoltaics business with the development and manufacturing of solar inverters as well as the related communication equipment under the brand Platinum. The brand Platinum reached Sales of € 50 m. in 2012. Diehl Controls transfers its photovoltaics activities to a competent partner as part of a corporate refocusing program. Dr. Axel Geuer, Executive and founder of mutares AG, evaluates the potential of the photovoltaics business positively: „The brand Platinum is well established in the market, the new product range R3 has great potential and has received positive customer feedback shortly after its introduction to the market. This is an important basis to develop the business towards long term profitability. However, in this know-how driven business the employees remain the most important potential for growth. Their creative ideas and designs will be a competitive advantage in the market.“ The collaboration in the photovoltaics business is not the first joint project of mutares AG and Diehl Group. In 2009 mutares AG acquired Diehl Elastomertechnik GmbH; the now called Elastomer Solutions Group has been growing continuously over the past years. Latest figures show a sales increase of +35 % versus 2009; also the number of employee has grown significantly. mutares AG takes over all 82 employees with their existing employment contracts. „The people are our source of know-how. We can only be successful together with them“, emphasizes Dr. Wolf Cornelius, who will run the new company together with its established CEO, Klaus Frehner. There is a clear commitment to the location of the company in Wangen im Allgäu: „Wangen is competitive for the production of inverters!” Dr. Cornelius assures. On this basis, mutares Solar GmbH signed a long-term contract with Diehl Controls regarding the utilization of the production facility. The business areas Appliance and Smart Home will not be affected by the transaction. “In the area of Appliance we are one of the market leaders worldwide and in the Smart Home sector we are working on interesting projects with a very promising future “, says Diehl Controls’ member of Corporate Division Board Dieter Neugebauer.” On some of these projects we will work closely together with mutares, for instance in the area of intelligent solutions for private energy consumption.“
About Diehl Controls:
Diehl Controls is a worldwide leading specialist for the design and production of control systems. Under its brand Diehl AKO® the company supplies electronic components and systems to the international household appliance industry. With its Smart Home activities Diehl Controls focuses on highly innovative products for the future energy management market.
mutares AG, Munich (www.mutares.de), acquires midsized companies in whole and in part, which are sold as a result of a repositioning process at their owners and which exhibit a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to generate a significant value increase. The focus of the operational work is to ensure sustainable, long-term growth. The stocks of mutares AG are listed at the Open Market segment of the Frankfurt stock exchange (symbol: MUX, ISIN: DE000A0SMSH2).
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