Literature Review Women on boards and in TMTS and firm performance 107 2006 Nov 13 These analysts further reported that the company has been in regular contact with all silicon manufacturers and feels very con fident that supply will be secured for the entire facility well in advance Citigroup Company Flash 2006 Nov 13 They identified as a key risk a de layed ramp up of production due to technical pro blems but also saw supply shortfalls as critical In January 2007 CONERGY unexpectedly released in an ad hoc announcement CONERGY AG 2007 January 11 that the self imposed sales goal could not be achieved due to delays in delivery of solar modules and wind turbines Regarding the delay ed delivery of special photovoltaic modules CEO Rueter held Asian suppliers responsible According to Rueter this delay forced CONERGY to postpone bringing two major power plants to grid connecti on until 2007 resulting in a shifting of revenues of about EUR 53 million into the following year Rueter made an attempt to counter this unplea sant situation He presented the issue as a clear confirmation for his former decision to launch an in house production facility in order to free the Group from its dependency on upstream suppliers The decision for this vertical integration was in principle right as the limited availability of solar modules and their primary products which was in turn due to the global shortage of solar silicon had been the key limiting factor for photovoltaic instal lations in previous years Moreover and contrary to other manufacturers CONERGY could profit from its own high quality global distribution network However a sufficient supply of the extremely sc arce raw materials for solar products was crucial to ensure profitable operation and thus amortization of the production plant At the same time CONERGY also continued sour cing crystalline and thin film solar modules from third party suppliers By securing supply for its construction sites all over the world CONERGY aimed at accomplishing the planned growth and thus fulfil its self imposed sales goal of EUR 1 25 billion for 2007 CONERGY signed several high vo lume contracts with suppliers during 2007 In Feb ruary it closed a contract with China s largest solar cell and module manufacturer Suntech Power for delivery of solar modules worth at least USD 270 million within 2007 CONERGY AG 2007 February 12 The contract volume represented a multipli cation compared with the previous year In Sep tember CONERGY doubled the volume of thin film modules to be delivered by US manufacturer First Solar in the years up to and including 2012 from 245 MW to 465 MW The strong volume increases can be seen as in dicator of Rueter s overly optimistic expectations regarding the company s future growth rate par ticularly taking into consideration the additional 50 megawatts in perspective 250 megawatts ca pacity of the Frankfurt Oder production facility In April 2007 three months prior to the planned pro duction start of the new Frankfurt Oder plant the Group concluded contracts with suppliers for the delivery of 80 percent of the required silicon and silicon based production materials for full utilizati on of the plant s peak capacity of 50 megawatts but only for the second half of 2007 CONERGY had claimed in an ad hoc announcement that it could have secured long term supply also for 2008 and beyond but had been hesitant as it expected more favourable procurement conditions by 2008 resulting from the silicon industry s substantial ca pacity increase CONERGY AG 2007 April 5 Ana lysts report that CEO Rueter repeatedly assured that CONERGY had principally secured the requi red production materials and could access them if necessary CEO optimism and overconfidence

Vorschau DIRK-Forschungsreihe Band 21 Workforce diversity and personal policies Seite 107
Hinweis: Dies ist eine maschinenlesbare No-Flash Ansicht.
Klicken Sie hier um zur Online-Version zu gelangen.