International
. Danfoss and SMA Solar Technology plan to enter into a close strategic partnership to bring about a change of pace in competitiveness. The two technology specialist companies seek to take full advantage of economies of scale and joint development initiatives. In addition, Danfoss acquires 20% of SMA's outstanding shares and plans to sell its entire solar inverter business to SMA.
"The strategic alliance with Danfoss consolidates SMA's leading position in the global PV market. We face a highly competitive market environment and increasing pressure on prices. In this context, SMA will benefit from Danfoss' expertise in automated units. This market has been characterized by strong competition for a long time. Consequently, the Danfoss Group strategy aims at continuous cost improvements through global outsourcing and downhill initiatives. By establishing close cooperation there is significant potential to improve the cost position in both companies," said SMA CEO Pierre-Pascal Urbon.
With the acquisition of the Danfoss solar inverter business, SMA will increase its product portfolio. Following the completion of the transaction SMA will launch new products for the fast-growing market segments of medium-sized PV plants in Europe, China and the US.
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