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Q-Cells AG Publishes Half-Year Report

For the first half year of 2006, Q-Cells AG (QCE; WKN 555866) increased production to 112.6 MWp from 66.6 MWp a year earlier. This reflects growth of approximately 69%. Sales, earnings before interest and tax (EBIT) and net income for the period rose significantly in the first half. Sales increased 108% to EUR 243.1 million from EUR 116.7 million in the prior-year period. EBIT and net income grew even more than sales at rates of 138% and 153%, respectively, to EUR 55.9 million (EUR 23.5 million) and EUR 37.4 million (EUR 14.8 million). Based on these figures and the expected second half results, Q-Cells AG is raising its forecast for fiscal 2006. The company continues to expect that it will increase production to approximately 255 MWp (2005: 165.7 MWp). Based on continued progress in optimizing products and production processes as well as somewhat improved sales conditions and cost ratios, Q-Cells now anticipates sales of approximately EUR 525 million for fiscal 2006 (2005: EUR 299.4 million), EBIT of approximately EUR 115 million (2005: EUR 63.2 million) and net income of approximately EUR 75 million (2005: EUR 39.9 million). The export ratio increased significantly compared to the prior-year period. In the first […]

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SunEdison Acquires California Solar Integrator

SunEdison has acquired Team Solar, Inc., one of Northern California’s largest installers of photovoltaic (PV) solar electric systems. Combined with SunEdison’s operations in all other active solar markets — HI, CO, CT, NJ, and NV — this transaction makes SunEdison the nation’s largest commercial PV contractor. Team Solar will continue to operate from its offices in Sacramento, covering all projects in the region. “We are excited to leverage our strong installation experience with SunEdison’s turn-key project management and financing capabilities and to have the opportunity to work on SunEdison’s impressive project pipeline,” said Rick Lavezzo, CEO of Team Solar. Jigar Shah, CEO of SunEdison, said, “This acquisition positions SunEdison as the largest provider of solar electric products and services in the country, with concentrated capabilities in California which, due to the recent California Solar Initiative, is currently the most active solar market. Team Solar’s excellent reputation in Northern California makes it a perfect partner for SunEdison — its well-established operational capabilities and installation experience will further enable SunEdison to provide competitively priced solar energy at or below local utility rates.” The addition of Team Solar’s 11 megawatts (MW) of experience brings SunEdison’s cumulative portfolio of installations to more than 24 […]

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