Photovoltaic solar Reuters following Solarzoom the broke the German Refusol and Advanced Energy signed a contract, and now the German PV inverter business Refusol has become a subsidiary of Advanced Energy Industries.

Headquartered in Germany messing root (Metzingen) Refusol Holding GmbH spokesman confirmed that the company has signed an agreement with Advanced Energy. Therefore, this American company has acquired Refusol of three-phase series inverter production line was expected to enable the existing central inverter product more perfect.

Advanced Energy released a statement saying that the company will Refusol pay about 59 million euros in cash, after assuming its debt amounted to € 9,000,000 and € 1.8 million net reduction in working capital. If confirmed, unconfirmed acquisition EBITDA has reached the target of 12 months before the € 10 million may be paid cash and Advanced Energy stock in two ways.

It is reported that the U.S. company had been IHS buy solar panels  as the year 2012 the world's fourth largest supplier of power inverters. In addition, RefuSol after the acquisition, the company PV revenues in 2014 is expected to grow to over 400 million U.S. dollars. The CEO Garry Rogerson said, The REFUsol of acquisition is many of our strategic initiatives, we are speeding up the company's revenue growth and profit margins.

He added that through the use of existing channels in the North American market and REFUsol infrastructure in India, Asia, the Mediterranean and Eastern Europe and other emerging markets, we will be faster to enter these emerging markets and in-depth development, the market has a huge growth potential. And our unrelenting focus on cost control, the acquisition will contribute to the achievement of our strategic objectives, and tremendous value for our shareholders.

The comment Refusol said the acquisition will make our products easier access to overseas photovoltaic market. Michael Groll, director of marketing at the company, told reporters that the two sides signed the purchase contract on April 9. In addition, messing root plant will be retained.

Market research firm IHS cheap solar panels will this acquisition as "laid the European market position to further develop the product supply channels, and strategic initiatives to reduce the small three-phase inverter in a commercial system is the gradual erosion of risk."

Although it was revealed that the two companies in 2012 business combination will become the world's third largest supplier of power inverters, but according to the 2012 total revenue is expected to total global market share of the two companies is just above 5%.