Diehl Controls transfers PV business to mutares Solar

GERMANY: Diehl Controls, subgroup of Diehl Group, Nuremberg, will sell the business unit photovoltaics with effect from 1April 2013 to mutares Solar GmbH, a 100 percent subsidiary of mutares AG, Munich. mutares AG will strategically develop the photovoltaics business located in Wangen.

All 82 employees will be taken over by the new owner. The manufacturing of the photovoltaics products remains with Diehl Controls. The business areas Appliance and Smart Home are not affected by this transaction. Diehl Controls refocuses with this transaction on its core competencies in the OEM business.

In 2005, Diehl Controls entered the pholtovoltaics business with the development and manufacturing of solar inverters as well as the related communication equipment branded Platinum. The brand Platinum reached Sales of EUR 50 million in 2012. Diehl Controls transfers its photovoltaics activities to a competent partner as part of a corporate refocusing program.

Strong partner
'Since mid-2012 we've been searching intensively for a partner, who can strategically develop the photovoltaics business and has a strong sales expertise', explains Dieter Neugebauer, member of the Corporate Division Board of Diehl Controls.

'After constructive negotiations, we are glad to have won mutares AG as a partner that is interested in a successful expansion of this business unit and that will further develop the photovoltaics activities at this location. Particularly the technologically outstanding products together with the highly qualified and motivated employees are very important for mutares. Dr. Axel Geuer, executive and founder of mutares AG, evaluates the potential of the photovoltaics business positively:

"'The brand Platinum is well established in the market, the new product range R3 has great potential and has received positive customer feedback shortly after its introduction to the market. This is an important basis to develop the business towards long term profitability. However, in this know-how driven business the employees remain the most important potential for growth. Their creative ideas and designs will be a competitive advantage in the market.'

The collaboration in the photovoltaics business is not the first joint project of mutares AG and Diehl Group. In 2009 mutares AG acquired Diehl Elastomertechnik GmbH; the now called Elastomer Solutions Group has been growing continuously over the past years. Latest figures show a sales increase of +35 percent vs. 2009; also the number of employee has grown significantly.