Advanced Energy Industries, Inc. announced the creation of two focused business units within the company effective January 1,2011. The two business units, Thin Films and Renewables, will enable improved execution and a strategic focus on two distinct markets. Both business units will leverage the deep competencies in power conversion and energy management that Advanced Energy has developed in the last 25+ years.
“The re-alignment of AE’s businesses reflects the success of our strategy to maintain our leadership in thin film markets, while also expanding into high-growth renewable markets with our inverter product portfolio,” said Hans Betz, CEO of Advanced Energy. “The Thin Films business unit will serve principally our OEM and end customers in the semiconductor, flat panel display, solar module and other capital equipment markets, while the Renewables business unit will focus on string, commercial and utility-scale solar projects and installations, selling primarily to distributors, EPCs (Engineering, Procurement, and Construction contractors), developers, and utility companies. The creation of these two units will enable greater focus on each business’ unique needs and requirements, allowing each to expand and accelerate our growth by better serving each of these very different industries.”