SMA SOLAR TECHNOLOGY AG CONCLUDES SALE OF SMA RAILWAY TECHNOLOGY GMBHSMA Solar Technology AG (SMA/FWB: S92) concluded sale of its subsidiary SMA Railway Technology GmbH today. The buyer is the leading Chinese railway technology group Beijing Dinghan Technology Co., Ltd. The buyer and the seller have agreed not to disclose the purchase price. The transaction will contribute positively to the SMA Group’s earnings in the first quarter of 2017. Against this backdrop, the SMA Managing Board forecasts sales of €165 million to €175 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of €15 million to €18 million for the first quarter of this year. The SMA Managing Board is confirming its sales and earnings guidance for fiscal year 2017 as published on January 26, 2017, which forecasts sales of between €830 million and €900 million and EBITDA of between €70 million and €90 million.
Indag Rubber has agreed to acquire more than 51% shares or voting rights in five companies – Samyama Jyothi Solar Energy, Poorvaj Solar Energy, SUN Solar KFP Bellari, BG SUN Solar Hiriyur and Arete Elena Energy.
The total investment in above named 5 companies would not exceed more than Rs 30 crore in aggregate. The aforesaid 5 companies are Special Purpose Vehicle (SPV) which are yet to commence its business.
Indag Rubber is a tread manufacturing company. The company is engaged in the manufacturing of the Precured Tread Rubber, Bonding Repair and Extrusion Gum, and Rubber Cement, which are used for retreading of tires.