Roth & Rau buys out joint venture SLS Solar Line Saxony

(ADPnews) - Nov 8, 2010 - German photovoltaic (PV) technology firm Roth & Rau AG (ETR:R8R) today said it bought out the remaining 49% it did not own in SLS Solar Line Saxony GmbH.

Roth & Rau boughts the stake from the joint venture's other owner -- German special machines and industrial installations supplier USK Karl Utz Sondermaschinen GmbH (USK). No financial details were disclosed.

The two companies formed SLS two years ago in order to manufacture automation products for the production of solar cells.

"The demand for cost-efficient automation solutions is growing, especially at Asian markets where we get 90% of our orders from", Roth & Rau chairman Dietmar Roth said.

In February this tear, Roth & Rau bought OTB Solar, another provider of automation solutions for solar cell manufacturing. "The present acquisition and our current activities in OTB Solar enable us to better integrate the manufacture of automation systems in our structures and production sequence as well as to lower our costs", Roth & Rau CFO Carsten Bovenschen added.

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