Release
Merger of technology and power plant construction subsidiaries Flagsol and MAN Solar Millennium completed
Company operates under the name of Flagsol GmbH
Solar Millennium assumes a 74.9% controlling interest in the joint venture with
Ferrostaal
Another step towards becoming one of the global leaders in the development,
construction and operation of parabolic trough power plants
With the entry in the commercial register, Solar Millennium AG,
The company will operate as Flagsol GmbH, headquartered in
Thomas Mayer, spokesman for Solar Millennium’s Management Board explains: “By merging our technology and construction know-how for parabolic trough power plants in one single company we will be able to use synergy effects and make parabolic troughs even more efficient in close cooperation with our partner. At the same time we thus intend to sustainably expand our position as one of the leading suppliers in the development, construction and operation of parabolic trough power plants worldwide. The majority share in the joint venture will strengthen our operating power. The new Flagsol will be fully consolidated in the corporate financial statements, allowing for increased sales and earnings from the Power Plant Construction segment.”
Dr. Wolfgang Knothe, CEO of Flagsol GmbH, adds: “By combining technology and plant construction, we have now bundled our complete know how in the development, design and construction of solar power plants in one single business unit. The Andasol 3 project is already being realized. The Andasol 3 project is already being realized by the restructured joint-venture, as well will be Ibersol. This combination of competence and experience is the foundation for becoming the technology and cost leader for parabolic trough power plants in the long term. Moreover, we intend to establish Flagsol as one of the globally leading suppliers for services and products in connection with the construction, operation and maintenance of solar-thermal power plants. The close cooperation with both our parent companies will continue to guarantee our success in the future.”
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