30.3.2004: Meldung: Solar Energy Systems: Agreement to Enter China

Solar Energy Systems Ltd (SES) is pleased to announce that it has reached agreement with Beijing based company Sino West Assets Group (SWAG) to pursue stage one of SES"s entry into the
Chinese market.

The first stage of the agreement covers two major areas:
- Agreement for SWAG to undertake initial market research to investigate the feasibility of SES entering China with full scale production and distribution and;
- the sourcing of components by SWAG for SES"s production in Australia.

The business case developed indicates this to be a high return, low risk strategy for SES, with the first cost savings forecast to impact SES"s bottom line in the coming financial year. SWAG has excellent business contacts throughout China across both the public and private sectors, and will use these contacts to source the lowest life cycle cost components for SES"s products. Whilst the lower costs of production will increase the competitiveness of SES"s Sun Mill® solar pumps within the Australian market and other parts of the international market, the market research SWAG will undertake will determine the level of demand for Sun Mill within the Peoples Republic of China (PRC).

"We are excited about the potential for this relationship to realise concrete, short term benefits, as well as the substantial longer term upside from selling into the Chinese market and increasing our international competitiveness" said SES Executive Director, Anthony Maslin. "This Agreement is an ideal strategy to lower the Company"s production costs while simultaneously opening up major potential in overseas markets through improved price competitiveness, both within China and for export into other international markets, particularly key markets within the developing world."

"Over the coming months, SES and SWAG will seek out suppliers in China that not only produce quality, competitively priced goods, but also adhere to internationally accepted social and environmental standards," he said.

"By forming this key strategic partnership, it is envisaged that SES will leverage off SWAG"s strong network in China to create significant distribution opportunities, as well as options for assembly of the Sun Mill in that country," Mr Maslin said.

Some 50 million people live in West China, many of whom do not have access to piped drinking water. The region hosts vast mineral resources and is expected to undergo significant improvements in the standard of living as a result of funding from the Chinese government and international resource companies.

Sino West Assets Group is a Beijing based advisory and venture capital group with many years experience in assisting foreign companies to enter and profit from the China market. SES is the first Australian based company with which SWAG has signed an agreement. Previously the group has worked mainly with European and American based clients.

SES was established in January 1999 and listed on the ASX in December 2000 after a successful $5 million initial public offering. SES manufactures and installs innovative solar water pumping and purification technologies used in the agricultural and mining sectors, by remote communities and by foreign aid groups.

SES also operates a Consulting Services and Project Management business to provide sustainable water and power solutions to both the domestic and international markets. A third business, Solar Energy Systems Infrastructure Pty Ltd, is investigating the feasibility of marketing bottled water produced by the world"s only solar powered reverse osmosis unit to remote areas.

Web: www.sesltd.com.au
For more information:
Anthony Maslin
Executive Director
(08) 9204-1521
0438 142 268
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