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. |