Würth Solar moves into the wholesale photovoltaic market with SolarMarkt acquisition

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SolarMarkt, a wholesaler and project planner for photovoltaic systems, has been acquired by Würth Solar. Alongside the declaration of this acquisition, Würth also presented its extended company strategy at a press conference in the Schwäbisch Hall, Germany. The company said that it plans to anchor its dynamic growth on five pillars and is planning to increase its sales to over €500 million by 2014.

“We are systematically strengthening our market position as a manufacturer of CIS modules and a provider of photovoltaic solutions in the market,” said Karl-Heinz Groß, managing director of Würth Solar.

“We have defined five strategic business segments. The existing CIS systems integration and solar power plants division and the new wholesale and photovoltaic mounting systems units from the acquisition of SolarMarkt are driving our growth in distribution. The fifth segment, expertise licensing and cooperation with Manz Automation, will also multiply our successful CIS photovoltaic technology. Based on these five pillars, we want to continue to grow faster than the market in the years to come and boost sales to over €500 million in 2014.”

Through the SolarMarkt acquisition, Würth Solar is entering the wholesale PV market and will now also be a manufacturer, product developer, and dealer of mounting systems through SolarMarkt’s Creotecc subsidiary.

“By acquiring the very successful SolarMarkt, we have succeeded in diversifying Würth in terms of distribution and in the future will also cover the two strategic distribution fields of wholesale and mounting systems in photovoltaics,” said Groß.

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