Kyocera Solar, Inc. Sells Argentine Operations
Kyocera to continue solar electric systems business in Argentina through new company
SCOTTSDALE, ARIZONA (July 2, 2002) - Kyocera Solar, Inc. today announced the sale of Kyocera Solar Argentina S.A., which is based in Buenos Aires, Argentina and includes a manufacturing operation in La Rioja, Argentina, to Fernando J. Salgado, a long-time employee and division manager. Terms of the sale were not disclosed.
Salgado has re-named the company "Solartec S.A.," and has entered into supply/purchase and license agreements with Kyocera Solar, Inc. Under the terms of these agreements, Solartec will continue to market Kyocera solar products and manufacture specialty products for Kyocera Solar, Inc.
"The sale of Kyocera Solar Argentina S.A. presents the most effective way to continue to develop our business in Argentina," said Doug Allday, President of Kyocera Solar, Inc. "We believe the interests of both Kyocera and the employees of Solartec will be best served under this new relationship. We look forward to a mutually beneficial future and wish Mr. Salgado and Solartec's employees continued success." Salgado, President of Solartec, S.A., stated, "Solartec intends to continue our tradition of providing quality products and service, and we look forward to a prosperous and rewarding relationship with Kyocera Solar, Inc. as its customer and supplier. I also wish to thank all of the people at Kyocera with whom we have worked over the past several years for their continuing support." Kyocera Solar, Inc. will continue to focus on providing quality solar-related products and solutions in the areas of residential and commercial grid-tie, industrial systems, and water pumping to its dealer/OEM customer base in both the U.S. and international markets.
Kyocera Solar, Inc. is a world-leading supplier of environmentally sound, solar electric energy solutions, with headquarters in Scottsdale, AZ and sales affiliates in the Americas and Australia. The company is a wholly-owned subsidiary of Kyocera International Inc. of San Diego, the North American headquarters and holding company for Kyoto, Japan-based Kyocera Corporation.
Kyocera Corporation (NYSE: KYO), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of advanced ceramics. By combining these engineered materials with metals and plastics, and integrating them with other technologies, Kyocera Corporation has become a leading supplier of solar energy systems, telecommunications equipment, semiconductor packages, electronic components, cameras, laser printers, copiers and industrial ceramics. During the year ended March 31, 2002, Kyocera Corporation's consolidated net sales totaled 1.034.6 trillion yen (US$7.778 billion) with net income of 31.953 billion yen (US$240.2million). Kyocera Corporation has been recognized by IndustryWeek magazine as one of "The World's 100 Best-Managed Companies."