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.
Governor Pat McCrory, North Carolina Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of North Carolina (EDPNC) made the announcement on Friday.SWELECT Energy Systems LLC plans to build a 155-person workforce over the coming five years, investing more than $4.7 million in a manufacturing site and adjacent solar farm.“This announcement is another example of North Carolina’s competitive business climate, talented workforce and strong economic comeback, especially in manufacturing,” said Governor McCrory. “SWELECT also fits in to our all-of-the-above energy strategy to contribute to our country’s energy independence and create jobs in North Carolina.”
SWELECT Energy Systems Limited is a leader in power electronics and renewable energy based in Mylapore, India. It has installed more than 1,700 solar farms since its founding in 1983.“SWELECT’s choice of Halifax County highlights all the factors that have made North Carolina the Southeast’s No. 1 state for manufacturing jobs,” said Secretary Skvarla. “A competitive cost-structure, highly productive workers and ease of access to North American markets all will play a part in this company’s success.”The 155 positions at the Halifax operation will include skilled operators, quality control specialists, logistics personnel and others. Annual salaries will vary by position but will average at least $30,419. Overall wages in Halifax County currently average $30,395 per year.
“Producing modules at the Halifax County facility allows us to help North Carolina meet its renewable energy goals and further support the U.S. market,” said R. Chellepan, SWELECT’s managing director. “Our partnership with North Carolina and Halifax County presents the opportunity for SWELECT to leverage 30 years of world class experience in solar manufacturing. We are delighted that our products will be ‘Made in the USA.’”The project was made possible in part by a performance-based grant of up to $600,000 from the One North Carolina Fund.“Halifax County welcomes this leading-edge alternative energy company,” said N.C. Senator Angela Bryant. “We look forward to SWELECT Energy Systems becoming a valued member of our business community.”
“Congratulations to this global manufacturer of solar equipment on its choice of Halifax County for this exciting investment,” said N.C. Rep. Michael Wray. “I am proud of the collaboration between our local and state economic development organizations and educational and utility partners for bringing this significant opportunity to us.”Joining EDPNC and N.C. Commerce in supporting SWELECT’s new location are the North Carolina General Assembly, the North Carolina Community College System, Halifax County, Halifax County Business Horizons and Roanoke Electric Membership Corporation.