The SMA Group announced the global strategic restructuring on December 11, 2018 and, with the approval of the SMA Board of Supervisors and Management Board of Directors, it is agreed that the management led by Dr. Zhang Yong, former President of China Region, would launch MBO (Management Buy-Out) and acquire 100% equity interest in SMA China and operate independently. The new company will continue to produce products for the SMA Group, jointly develop overseas markets, and provide business support in research and development, procurement and customer service. At that same time, the SMA group will provide sufficient financial guarantee for the development of the new company. After the establishment, the new company will vigorously develop the Chinese market; actively explore new products and new business for the global market.
Dr. Juergen Reinert, CEO of SMA Group, said: “In the light of market changes and in order to further restructure the global business, the SMA Group Board of Supervisors and the Management decided on December 6 to restructure the Chinese Subsidiary, and approve the Chinese Management led by Dr. Zhang Yong to take over the existing Chinese business as a whole. We will conduct a smooth handover process to ensure business continues smoothly with all partners while minimizing the impact on the Chinese team, which will eventually lead to the withdrawal of the relevant entities in China Region from the SMA Group. The SMA Group and Dr. Zhang Yong’s new company will work closely together in production, supply chain and customer service to leverage China’s manufacturing strengths, optimize costs and improve efficiency, and continue to serve the international market. In the future, the new company will focus on exploring the Chinese market. The SMA believes that this will be a tremendously innovative win-win solution and that the new company will be able to develop the Chinese market more efficiently, especially with the support of the SMA, and will actively expand new businesses and products beyond the scope of the SMA Group’s business. We are grateful for your understanding of this change and hope that you will offer your strong support to the SMA Group and the new company. “
Dr. Zhang Yong, President and General Manager of the new company, said: “This is a significant moment for SMA China. As a former member of the SMA Group, after its establishment, the new company will continue to work closely with the SMA Group to provide high-quality products, systems and services to overseas and Chinese markets with a more efficient and dynamic new look and a more competitive price and will continue to work closely with customers and suppliers as well as partners in the industry for a long time to make progress. Looking to the future, we will operate steadily and grow rapidly. In addition to developing the photovoltaic inverter business, the company will also distribute around the relevant fields. Our goal is to turn the new company into an enterprise that respects talents and knowledge and has a sense of social responsibility so as to contribute to China’s photovoltaic development, clean environment and advanced manufacturing industry. ”
SMA China’s MBO will, based on the long-term outstanding talents, technology, quality, process, system and management, further stimulate enterprise vitality, and create a new atmosphere.