SULZEMOOS (dpa-AFX) - Phoenix Solar AG (PS4G) said that it has acquired the outstanding minority shares in its Singapore based subsidiary Phoenix Solar Pte Ltd. 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.
The Asia Pacific Region is poised for renewed growth in 2017 and beyond, also addressing promising new local markets such as Australia, Vietnam and Indonesia.
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.
Eric Fleckten (45) who preceded Mark Argar as Senior Vice President Asia/Pacific is transitioning to Senior Vice President for Global Business Development focusing on new markets, battery and hybrid systems and project development. Eric will continue to support activity in the Aisa/Pacific region to ensure profitable growth in 2017.
Copyright RTT News/dpa-AFX