MAGE SOLAR GMBH Establishes Italian Subsidiary

Online, August 11, 2010 (Newswire.com) - Ravensburg (Germany)- MAGE SOLAR GMBH, part of the globally operating MAGE GROUP, is further expanding its activities in Italy with the founding of a subsidiary in Milan. The international solar company is reacting to the high demand for complete solar systems on the Italian photovoltaic market by establishing MAGE SOLAR S.r.l. at the beginning of August 2010.

Italy is already one of MAGE SOLAR's most important foreign markets. This new subsidiary is intended to further advance this strong position. This local presence makes it possible for MAGE SOLAR to react even more flexibly and faster to the requirements of regional customers.

"Italy is a key market within the European photovoltaic industry. Even after the cutbacks planned for 2011, the country has still one of the most attractive subsidies in Europe. In addition there is the above average sunshine duration. This combination makes this market very interesting for investors," Norbert Philipp, CEO of the MAGE SOLAR GMBH explains. "The new location is another milestone in the consequent execution of our international strategies. We are also continuously building up our commitment in Italy."

There has already been a local MAGE SOLAR sales team based in Italy since 2009 with four Sales Managers successfully looking after the Italian market. In June 2010 MAGE SOLAR managed to win a 5.3 megawatt commission in Central Italy.