Phoenix Solar regains full control over Asia/Pacific operations from minority shareholders in Singapore

Phoenix Solar rooftop PV system in Singapore
Phoenix Solar rooftop PV system in Singapore

Phoenix Solar AG (Sulzemoos, Germany) has acquired the outstanding minority shares in its Singapore based subsidiary Phoenix Solar Pte Ltd., the company announced on March 21st, 2017. They were held by a group of former directors of this enterprise.

After the transaction Phoenix Solar AG will own 100 per cent of the company. The parties agreed not to disclose further details.

Furthermore, this means that Phoenix Solar now has 100 per cent ownership of all its key operating companies around the world.

Phoenix Solar Pte Ltd in Singapore was among the first international subsidiaries established by Phoenix Solar AG in 2006. It holds a leading position on the local Singapore market for commercial and industrial photovoltaic rooftop solutions.

It also serves as the parent company of Phoenix Solar Sdn Bhd, Kuala Lumpur, Malaysia, and Phoenix Solar Philippines Inc., Manila, Philippines, and oversees the activities in the entire Asia/Pacific region of the Phoenix Solar Group in both the commercial and industrial rooftop as well as utility scale ground-mounted segments for solar PV systems.

"We are a truly global company. With this move, we underscore our commitment to sustainable, profitable growth in Asia/Pacific,” comments Tim P. Ryan, CEO of Phoenix Solar AG.

“Taking full ownership of our regional subsidiary will enable us to gain further momentum."

 

New Senior Vice President in for the Asia/Pacific business region appointed

Mark Argar (52) has been appointed Phoenix Solar Senior Vice President for Asia/Pacific. Mark joins Phoenix from Bechtel Infrastructure, leaving his role as Vice-President for Business Development for Asia Pacific.

Prior to joining Bechtel he was CEO of a design and build consultancy in Manila delivering civil and military infrastructure in the Philippines and Cambodia. He also assumes responsibility as General Manager of Phoenix Solar Pte Ltd, Singapore, Phoenix Solar Sdn Bhd, Kuala Lumpur, Malaysia, as well as Phoenix Solar Philippines Inc., Manila, Philippines.

 

 

 

 

 

2017-03-21 | Courtesy: Phoenix Solar AG | solarserver.com © Heindl Server GmbH

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