PresseBox
Pressemitteilung BoxID: 379510 (PNE AG)
  • PNE AG
  • Peter-Henlein-Str. 2-4
  • 27472 Cuxhaven
  • http://www.pnewind.com
  • Ansprechpartner
  • Alexandra Edinger
  • +49 (611) 205855-16

The Stade District Court dismisses entirely the action against PNE WIND AG with an amount in dispute of EUR 54.28 million in connection with the sale of the stake in SSP Technology A/S

(PresseBox) (Cuxhaven, ) The Stade District Court has today dismissed the action of SSP Technology ApS, a company of the VENTIZZ-Group, which was directed at the reversal of the sale of the majority stake in SSP Technology A/S held by PNE WIND AG until 2008 against repayment of the purchase price of approx. EUR 34.54 million and an additional reimbursement of expenses in the amount of EUR 19.47 million. By dismissing the action, the Stade District Court has also rejected the alternative claim for a payment of approx. EUR 8.64 million for an alleged breach of a warranty relating to SSP Technology A/S's accounts agreed in the share purchase agreement. The commencement of this action was made public by PNE WIND AG in the ad-hoc-notification dated 16th October 2009.

The reasons for the judgment are not jet available to PNE WIND AG. The plaintiff can appeal against this judgment before the Celle Appellate Court.

PNE AG

PNE WIND AG with its headquarters in Cuxhaven develops and implements wind farm projects on land (onshore) and at high sea (offshore). Its core competence is the development, planning, implementation and financing of wind farms and their operation or sale including subsequent service. So far, the company has set up 96 wind farms with 548 wind energy systems and a total nominal output of 792 MW.

Alongside its business activities in the established German home market, PNE WIND AG is also increasingly investing in dynamic growth markets and has subsidiaries and representations via joint ventures in Hungary, Bulgaria, Romania, Turkey, the UK, USA and Canada. Wind farm projects with a nominal output of about 5,500 MW are currently being processed in these countries and are to be implemented in the medium term. In Germany (onshore) currently wind farm projects with a nominal output of more than 900 MW are being processed.

Furthermore, PNE WIND AG develops offshore wind farm projects, three of which have already been approved in German waters. Entering promising foreign markets is also being examined for the offshore area.