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Conergy AG takes over American Dankoff Solar

Conergy Holding, Inc., the 100 percent owned US subsidiary of Conergy AG, will henceforth own an 80 % stake in Dankoff Solar Products, Inc., with President Paul Benson holding the remaining 20 %.

Hamburg-based Conergy AG is taking over a majority stake in Dankoff Solar Products, Inc., of Santa Fe, New Mexico, thereby further expanding its international presence as a provider of market-tailored solar systems. With sales revenues totalling around US$ 17 million and a staff of 22, Dankoff is one of the leading solar enterprises in North America. The USA is the world's third largest solar market after Germany and Japan. "With Conergy, we know we have Europe's leading solar system provider on our side. Their versatile solar product range will ensure we win new customer groups for the rapid expansion of our market share in the USA," declares Paul Benson, 35, President of Dankoff Solar Products, Inc.

Hans-Martin Rüter, CEO of Conergy AG, states: "The USA is one of the solar markets that has a high growth potential. With this early acquisition of an established player in the field, and with staff who are among the pioneers in the industry, we are occupying an excellent position in this market also. This represents another large step forward in our international expansion."

With revenues topping EUR 285 million and currently around 400 employees, Conergy is one of the world's leading solar enterprises. The Conergy group is pursuing a customer-focussed global growth strategy that aims to offer every energy consumer the best-suited technology in the attractive renewable energy markets. This year, in addition to its entry into the US market, the Conergy group has also opened subsidiaries in Portugal and Australia. Accompanying its expansion into the most attractive solar markets worldwide, Conergy is also planning a customer-oriented diversification of its product range. This strategy enables Conergy to react flexibly to temporary demand fluctuations in regional markets due to the balancing effect from other segments and business areas. Conergy is also examining the acquisition of businesses at home and overseas in order to expand further both internationally and in complementary technologies.

About Conergy
Since its founding in 1998, Hamburg-based Conergy AG has sold more than a gigawatt in renewable energy, making it one of the biggest suppliers of solar energy and other renewable energies, and a world leader in solar system integration. Of the one gigawatt in renewable energies, Conergy has installed more than 400 megawatts in its major projects, Of the total one gigawatt, 200 megawatts falls to its wind energy park projects and 800 to its globally marketed solar modules. Calculative one in ten modules worldwide was produced, sold or installed by Conergy. Listed on the Frankfurt Stock Exchange since 2005, the group pursues a global growth strategy, The company now produces, installs and designs solar power systems and wind turbines in around 15 countries. The Conergy Group is represented with its own branches on four continents.

Conergy Australia is a key player in the Australian renewable energy market, manufacturing and supplying high efficiency solar hot water, solar power and small wind power solutions. With an Australia-wide distribution network, state sales offices and warehousing in 4 key locations around the continent as well as in-house dedicated renewable energy engineers and sales teams, the company has become an important part of the Australian industry since it began operations here in 2005.

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