Shanghai Electric invests in Manz AG

Reutlingen, Germany - Manz AG and Shanghai Electric Group Co. Ltd., domiciled in Shanghai (China), intend to enter into a strategic collaboration in the area of energy storage, solar technology and other automation technology areas of the Manz Group together with a major participating interest by Shanghai Electric in Manz AG.

Manz AG Managing Board also decided to continue the Solar CIGS technology in line with its review of the strategic options for Solar segment.

In order to enable Shanghai Electric to acquire a participating interest and to strengthen the financial performance, Manz AG plans to increase the company's capital stock by approximately 43% against cash contributions (corresponds to approximately 29.9% after the capital increase) by issuing new shares from the authorized capital with the inclusion of the shareholders

Source: IWR Online, 29 Feb 2016