SMA Solar Technology AG Closes Acquisition of dtw Sp.z oo
SMA Solar Technology AG has closed its acquisition of dtw Sp.z o.o., a Polish manufacturer of core components for inverter production. Within the SMA Group, dtw will operate as an independent subsidiary and global competence center for electromagnetic components. In acquiring one of its long-time suppliers, SMA is securing its position as a technology leader in the area of solar inverters.
The purchase agreement for the acquisition of dtw Sp.z o.o. was signed on June 14, 2011 subject to the approval of the Federal Cartel Authority and the Supervisory Board of SMA. The approval of the Federal Cartel Authority was given on July 13, 2011 and the Supervisory Board declared its unanimous consent on July 28, 2011. This means that the acquisition may be closed as per January 1, 2011. For 2011, the Managing Board of SMA expects a positive contribution of the transaction to operating income of € 20 to 25 million.
"SMA and dtw are connected through an extraordinary quality standard and an intensive research and development work," explained SMA CEO Pierre-Pascal Urbon. "The integration of our new subsidiary allows us to more effectively coordinate development processes, while also significantly reducing development times. This provides a great way to further distinguish ourselves from competitors in the future."
The dtw management board will play a major role in the continuing development of SMA’s new subsidiary. Company founder Stefan Domagala 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 that are optimized for high performance and low weight.
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.