Solar Coatings: Tinox Gets a Strong Partner

During the solar fair Intersolar 2008 in June, the German-based MAGE Industrie Holding AG and the Italian-based Almeco Group announced the merger of their coating activities in the solar thermal business field. The combination of the Almeco Group and the MAGE subsidiary Tinox GmbH brings together a significant provider of aluminium surfaces with an established specialist in copper absorber coatings. “At our Bernburg site we have one of the most technologically advanced manufacturing plants in the world. The merging of our companies creates a new global provider of innovative surface coatings using roll-to-roll PVD technology for widespread use in the solar thermal sector,” announced Almeco chairman Onorato Fiorentini. Almeco-Tinox combines Almeco’s production experience with Tinox’s comprehensive knowledge of the solar thermal market. To this end, the parent company MAGE transferred half of its Tinox shares to the Almeco Group. In exchange, it gets a minority stake in the Bernburg-based Almeco GmbH. “Since we are merging both groups in the solar thermal sector, we are planning to significantly expand our range of products. The world-wide sales and distribution networks, as well as our combined competence in research and development have promising potential to create synergy effects in developing our future business,” said MAGE director Markus Feil on the merger. Tinox is a global pioneer in solar coating technology with a history dating back to 1995. Since 2003 the company has been part of the Energy Technology Division of the MAGE Group. Almeco has recently invested in one of the most modern production plants for high quality coatings worldwide. As a result of the agreement, Tinox will change its name to Almeco-Tinox GmbH and will serve as the central point for all sales and marketing activities of both groups in the solar thermal field. The production sites will continue to be based in Munich and Bernburg. This text was written by Joachim Berner, a German journalist and solar thermal expert. Further information: www.tinox.com www.almeco.it

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