Management buy-out at ISOVOLTAIC AG

Press Release
Lebring, September 20th, 2016

Management buy-out at ISOVOLTAIC AG

ISOVOLTAIC AG has a new owner. Today Thomas E. Rossegger, CEO of ISOVOL-TAIC AG, has bought each 50 % of the ISOVOLTAIC shares of TIBAG Beteiligungen GmbH and CIAG-Beteiligungen GmbH as part of a management buy-out (MBO). It was agreed not to disclose the purchase price.

ISOVOLTAIC AG has its headquarters in Lebring, Austria. The company develops and produces with currently 170 employees at the two production sites Lebring (Austria) and Suzhou (China) backsheets for photovoltaic modules.

Stanislaus Turnauer, owner of the TIBAG Beteiligungen GmbH and of the CIAG-Beteiligungen GmbH: „The European Photovoltaic-Industry has already been suffering for years from the pressure of Chinese products and producers. Very high expertise and full concentration on this very special and difficult market is necessary to be able to meet these challenges. Thomas E. Rossegger leads the ISOVOLTAIC AG since 2010 with caution and careful attention and together with his team brings exactly this know-how with him. Therefore for me the management buy-out by Mr. Rossegger was a step in the right direction for the company.”

Thomas E. Rossegger: „I take over the ISOVOLTAIC AG in a very difficult market envi-ronment. I know the strengths of the company and trust in my leadership team and our employees. Within the next days I will talk with my management, the works council and the board of directors about the future of ISOVOLTAIC AG and at the beginning of October I will announce my further plans.“

ISOVOLTAIC AG is a world market and technology leader in the development and production of backsheets, a key component of photovoltaic modules. Products are being sold worldwide to large producers of solar modules, whereas a great part is being delivered to Asia (especially China). ICOSOLAR® backsheets provide long-term protection for solar cells so that they can convert sunlight into usable energy for a long time. ISOVOLTAIC, headquartered in Lebring in Austria has more than 30 years of experience in the manufacture of high-quality composite protective films for solar cells.

About Dipl-Ing.Thomas E. Rossegger
Thomas E. Rossegger, born in 1968, studied industrial engineering - mechanical engineering at Graz University of Technology. He has several years of management experience gained in industrial companies with an international profile where he worked specifically on the development and management of production and distribution sites. Mr. Rossegger joined ISOVOLTAIC in July 2010 and since then is the Chief Executive Officer. Since Sept.20th, 2016 Thomas E. Rossegger is the sole owner of ISOVOLTAIC AG.

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