Würth Solar acquires SolarMarkt AG; outlines plans to boost sales to €500 million by 2014

The acquisition, says the company, will give it access to the wholesale photovoltaics market and, through SolarMarkt’s subsidiary Creotecc, manufacturing, product development and retail of mounting systems will now fall under its umbrella.

Along with itss own module production, the acquisition is an important component of the further developed company strategy, which focuses on expanding distribution expertise.

“Our goal is to continue to grow faster than the market in the years to come and boost sales to over €500 million in 2014. The acquisition of SolarMarkt AG is an important part of this since it will help us continue to press ahead with our internationalization. Moreover, in acquiring SolarMarkt AG, we now have a successful wholesale and system integration company within our ranks. We will continue to operate on the market as Würth Solar …,” said Karl-Heinz Groß, managing director of Würth Solar.

The company additionally outlined its strategy for achieving this growth. Groß explained: “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 AG are driving our growth in distribution. The fifth segment, expertise licensing and cooperation with Manz Automation AG, 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.”