centrotherm photovoltaics plans capital increase via sister company integration


a move approved by the company’s Supervisory Board, centrotherm
photovoltaics AG has taken steps to increase its share capital by €8
million to €24 million. The company has passed a resolution to
integrate sister company centrotherm Thermal Solutions via a
‘payment-in-kind’ agreement with its major shareholder Hartung
Beteiligungs GmbH, which company will use its shares in the Thermal
Solutions company to subscribe for 4,224,293 new shares in centrotherm
at a significant discount of around €62 million compared with the
valuation of €199 million.

The combined cash and non-cash capital increase will involve the offering of a two to one subscription ratio. The resulting capital increase will be managed by Commerzbank AG and Landesbank Baden-Württemberg.

“Integrating centrotherm Thermal Solutions forms part of our strategy of incorporating key equipment and technology into the Group,” commented Robert Hartung, CEO of centrotherm photovoltaics. “Our aim is to further extend our technology leadership along the solar value-creation chain, and to secure our market position as a provider of production plants for solar silicon and turnkey production lines for the manufacturing of solar cells and thin-film modules.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

By Síle Mc Mahon

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA

Chinese New Year—Secure an unmissable saving of 50% on PV Tech Premium

Empower your solar business throughout 2024

Ends Friday, 23rd Feb 2024. New users only.