Niestetal, Germany/Zabierzów, Poland, June 14, 2011 – SMA Solar Technology AG (SMA/FWB: S92) have signed a purchase agreement for the acquisition of dtw Sp.z o.o., one of Poland's largest manufacturers of electromagnetic components, in Krakow. The transaction is expected to be completed in July 2011 under the usual reserves. In acquiring one of its long-time suppliers, SMA is securing its position as a technology leader in the area of solar inverters. dtw specializes in making technologically innovative core components for manufacturing inverters, such as inductors, coils and toroidal transformers.
"The acquisition of dtw is an important strategic step in expanding the technology leadership of SMA," explains CEO Pierre-Pascal Urbon. "It allows us to more effectively coordinate the development processes of mechanics, electromagnetic components and power electronics while also significantly reducing development times. The acquisition provides a great way to further distinguish ourselves from competitors in the future."
dtw and SMA have been close business partners for about 10 years. As one of the main suppliers of electronic components, dtw has always succeeded in facilitating the technological development of SMA with components of extraordinary quality and setting new technological standards. Within the SMA Group, dtw will operate as an independent subsidiary and global competence center for electromagnetic components.
"We have worked on building and expanding dtw with great passion over the years. Our acquisition by SMA will help ensure a stable future for the company. We are very happy that our management board stands in full support of the transaction and will play a major role in the continuing development of dtw," says company founder Stefan Domagała. "With SMA as an internationally established partner at our side, we will be able to expand our successful business on a global scale."
Stefan Domagała will continue to drive the research and development efforts of dtw and work in close cooperation with SMA developers. A number of development projects will focus on magnetic materials that are based on new types of alloys and high-frequency transformers, optimised for high performance and low weight. His wife and co-founder Izabella Domagała will assist with the integration of dtw and SMA in an advisory role.
"Stefan and Izabella Domagała have built a great company with highly-motivated employees," adds Pierre-Pascal Urbon. "We are very much looking forward to working together even closer with this outstanding team."
SMA will continue the complex manufacturing of electromagnetic components in the modern production facilities of dtw in Zabierzów. The SMA inverter production will stay exclusively at its headquarters in Niestetal/Kassel as well as at its international sites in Denver, Colorado, and Ontario, Canada, for the North American market.
SMA is planning a number of smaller acquisitions with the goal of optimising the value and supply chain and advancing its position as a technology leader in the future.
About dtw Sp.z o.o.
dtw Sp.z o.o. is a leading manufacturer of technologically innovative electronic components and is based in Zabierzów/Krakow, Poland. Founded in 1991 by Stefan and Izabella Domagała, the company currently has around 530 employees (including temporary staff). dtw has experienced strong growth over the past few years and achieved €74 million in sales in 2010. The company is known for its high-quality products and excellent research and development work.
With revenues of €1.9 billion in 2010, the SMA Group is the global leader in the PV inverter market, which is a central component of every solar power plant. The SMA Group is headquartered in Niestetal, Germany (near Kassel). It is represented by 17 international subsidiaries on 4 continents. In 2010, the group employed a staff of more than 5,000 (including temporary employees). SMA produces a broad range of inverter types, offering suitable inverters for any type of photovoltaic module and for PV plants of all sizes. The product portfolio includes inverters both for PV plants connected to the grid and for off-grid systems. Since 2008, parent company SMA Solar Technology AG has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and on the TecDAX. SMA has received numerous awards for its excellence as an employer, and recently won first place in Germany's nationwide "Great Place to Work" competition.
About SMA Australia
SMA Australia Pty. Ltd. is one of 17 world-wide subsidiaries of parent company SMA Solar Technology AG. SMA Australia supplies photovoltaic inverters to commercial and residential sectors, partnering with a large distribution network covering Australia, New Zealand and the South Pacific. SMA’s local office is based in Sydney, allowing the Australian team to provide service, sales and technical support to the region. Prominent solar installations within Australia containing SMA solar inverters include the Sydney Theatre Company, Sydney Olympic Park, Crowne Plaza Alice Springs, Cockatoo Island in Sydney Harbour and The Adelaide Show grounds.