Manz AG: Representative of anchor shareholder Shanghai Electric appointed to the Supervisory Board
12.07.2016 | Reutlingen/Filderstadt
- 2016 General Meeting conducted successfully this Tuesday
- Members of the Managing and Supervisory Boards relieved of strain
- Details of the strategic collaboration with Shanghai Electric are to be agreed shortly
Manz AG, a globally-active high-tech equipment manufacturer with a comprehensive technology portfolio for the three strategic business segments “Electronics”, “Solar” and “Energy Storage” successfully conducted its 2016 Annual General Meeting this Tuesday in the FILharmonie in Filderstadt. The presence of the represented capital stock lay at approximately 60 %, all the items on the agenda were approved.
Within the scope of the Annual General Meeting, the Managing Board reported in detail on the restructuring measures initiated after the difficult fiscal year 2015, in order to set up Manz AG profitably again for the future. The central element of these measures is the entry of the Shanghai Electric Group as anchor shareholder, which took place in May 2016. The company is the largest manufacturer of power plants in China, and is mainly focussed on the business segments energy efficiency, clean energy and industrial systems construction. As a result of the planned strategic collaboration, Guoxing Yang (48), Deputy Director of the Business Development Department at Shanghai Electric, was appointed as member of the Supervisory Board at Manz AG. Guoxing Yang thus takes over the mandate from Dr.-Ing. E.h. Peter Leibinger, whom the Managing Board and Supervisory Board would like to thank for his committment to the company.
With Shanghai Electric as a long-term orientated anchor investor and strategic partner, Manz AG sees new opportunities for the commercialisation of its globally-leading CIGS thin-film solar technology on the Chinese market. Dieter Manz, CEO at Manz AG, said: “2015 was the most difficult business year in the history of our company. We did our utmost to come out of this situation stronger than before. With Shanghai Electric, we have found a financially-sound, strategic partner for the future. We conduct regular exchanges in order to design our future collaboration in the segments of energy storage systems, solar power and other fields of automation technology in detail and to ensure success for both parties. We are delighted to have Guoxing Yang now on board and are confident of being able to report on the next steps in this partnership over the coming months.”