30 November 2009
Phoenix Solar AG preparing to found a subsidiary in the United States of America
Sulzemoos - Phoenix Solar AG (ISIN DE000A0BVU93), an international photovoltaic system integrator listed on the TecDAX, is in the process of preparing its entry into the market of the United States of America. On 30 November 2009, the Supervisory Board approved the proposal of the Board of Directors for the founding of a wholly owned subsidiary located in the State of California. The company is due to take up operations in the first half of 2010.
Significant growth potential has been forecast for the US market. The State of California is especially attractive for market entry owing to the favourable market incentives prevailing for photovoltaic systems, the size of the market and the huge potential for the large-scale project business.
The content of this press release is solely for information purposes and is not intended to constitute a recommendation for investment or a solicitation to subscribe or an offer to buy or sell securities of the company. Phoenix Solar AG shall undertake no liability whatsoever for any loss in connection with this press release or the information made available. This also applies particularly to any eventual loss in connection with the shares of Phoenix Solar AG.
This document contains forward-looking statements on future developments which are based on management’s current assessment. Words such as “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “can/could”, “plan”, “project”, “forecast”, “should”, and similar terms are indicative of such forward-looking statements. Such statements are subject to certain risks and uncertainties which are mainly outside the sphere of influence of Phoenix Solar AG, but which have an impact on the business activities, the success, the business strategy and the results. These risks and factors of uncertainty include, for instance, climatic change, changes in the state subsidisation of photovoltaics, the introduction of competitor products or technologies of other companies, the development of the planned internationalisation of business activities, fierce competition as well as rapid technological change in the photovoltaic market. If one of these or other factors of uncertainty or risks should occur, or if the assumptions underlying the statements should prove incorrect, the actual results may diverge substantially from the results in these statements or implicit indications. Phoenix Solar AG does not have the intention nor will it undertake any obligation to realise forward-looking statements on an ongoing basis or at a later point in time as this is entirely dependent on circumstances prevailing on the day of their release.
In some countries, especially in the United States of America, the dissemination of this press release and the information contained therein may be restricted or prohibited under the law. This press release is therefore expressly not intended for persons resident in the United States of America or any other legal system under which such an offer or solicitation is not permissible, or for persons for whom such an offer or invitation would constitute a breach of the law.
Sulzemoos 30 November 2009
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Attention editorial offices: For further questions please contact Mrs. Anka Leiner, Investor Relations Phoenix Solar AG.