Gleiss Lutz advises Schott on the formation of a joint venture with Wacker to produce solar wafers

Wacker Chemie AG and SCHOTT Solar GmbH, a wholly-owned subsidiary of SCHOTT AG, have formed two joint ventures for the manufacture and sale of silicon wafers for the solar industry. Schott Wacker Solar will produce multicrystalline silicon ingots and wafers for solar applications. The investment of some EUR 370 million will create at least 700 new jobs in Germany. The plans are to launch production before the end of 2007 and to increase it gradually to one gigawatt per year by 2012, making the joint venture one of the five largest manufacturers of solar wafers worldwide. The project is subject to the approval of the competent national and European authorities.

Schott AG was advised by a Gleiss Lutz team made up of Dr. Detlef Bauer (lead, partner, M&A), Thomas Richter (M&A), Dr. Stefanie Beinert (partner, tax), Natalie Schweda (tax), Ulrike Bär (tax) and Dr. Wolfgang Bosch (partner, competition).