The value of orders at machine manufacturing company Singulus Technologies (Kahl / Germany; www.singulus.de) fell in by nearly 45% Q2 2007 to EUR 108.5m. In its core optical disc production machine segment demand was very subdued, the company said. Compared with the same period of the previous year, sales fell from EUR 116.5m to EUR 112.3m. EBIT in the first half of the year was EUR 700,000 compared with EUR 5.2m in the first half of 2006. Net profit was EUR 1.3m (EUR 5.9m).

In response, Singulus says that it now aims to diversify through moving into the fast-growing solar panels market and has acquired 51% of Stangl Semiconductor Equipment (Eichenau / Germany; www.stangl.de) for just under EUR 44m. The company has an option from 2010 to purchase the remaining shares of the solar technology equipment company, which has annual sales of EUR 30m. The transaction is expected to be completed in September 2007, when Singulus will announce further details about the business. It expects the acquisition to yield a significant positive contribution to earnings before the end of this year.

Singulus aims to combine its experience in the field of thin-film technology with Stangl's expertise in wet-chemical processes to produce solar panels on a broader basis. They will also take advantage of the benefits of a joint sales and service network.

Stangl was established in 1988 as an equipment manufacturer for the semiconductor industry and has been producing equipment for solar cell production for five years, covering both silicon solar cells and thin-film solar cells. More than 80% of its sales currently come from equipment for the photovoltaics industry. Semi-conductors, optical systems and medical technology account for the remainder. It is assumed that the new acquisition will continue the dynamic growth and that up to 50 additional employees will be hired before the end of the year, Singulus said.

e-Service:
Singulus report on second quarter 2007 as PDF document (495 KB)