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July 24, 2003 -- Within the framework of a buy-out, the management has acquired the shares of FLABEG GmbH & Co. KG in SMA Regelsysteme GmbH and is now sole owner of the company.
In 1981, the managing directors of SMA Regelsysteme GmbH, Günther Cramer, Peter Drews and Reiner Wettlaufer, founded the company with the growing market of decentral energy supply systems in mind.
The company, based in Niestetal near Kassel, specializes in the manufacturing of inverters for photovoltaic plants, of energy supply systems for railway coaches and of electronic solutions for industrial applications. SMA is a specialist in system technology for PV plants and has developed the String inverter technology.
In 2002, the internationally active company achieved a turnover of 66 million Euro with more than 600 employees.
SMA has high expectations for the future in the field of system technology for decentral energy supply. An increase of turnover of 18% is expected for the current business year.
FLABEG is an internationally active company in the glass industry. The company is among the leading manufacturers in the car mirror industry and flat glass processing. FLABEG expects a turnover of approx. 190 million Euro for the business year 2002/03 (without SMA). The capital from the sale of the shares in SMA will be used for further expansion of the core business.
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