June 26, 2014 – Solarwatt has secured core areas of the insolvent Centrosolar Group. With effect from 1 July the company is acquiring the Centrosolar subsidiaries in Benelux and France. This purchase also means that all Centrosolar's international and European brand rights will be ceded to Solarwatt.
For Detlef Neuhaus, managing director of SolarwattGmbH, this addition to the European activities is "a great growth opportunity", "This takeover will give the expansion of our European sales a real boost. The highly qualified staff we are taking over from Centrosolar will now enable Solarwattto expand its market position even further. It gives us the opportunity to make our innovative systems better known in Europe", said Neuhaus.
Finance director Carsten Bovenschen looks to the future with confidence: "We are now completely restructured and fully funded, with a healthy shareholder structure", says the CFO. "Although the market is contracting, we have quadrupled our year-on-year revenue in the past twelve months. We have now increased our market share in systems for household use and smaller commercial installations to over ten per cent; and we are working on more innovative products and systems to get Solarwattmoving even faster. This acquisition puts our business model on an international footing and substantially reduces our dependence on the German PV market", added the CFO.
