The shareholders of REpower Systems AG have approved the conversion of the company to a societas europaea (SE). The company registered with the Hamburg Registry Court this week as REpower Systems SE and is now a corporation under European law.
The change in legal form from a stock corporation to an SE reflects the growing importance of the company's international and pan-European business activities, according to REpower.
‘The new legal form will make it easier in the future for REpower to grow in Europe,’ says Andreas Nauen, CEO of REpower Systems SE. ‘In addition to Germany, the company installed the most wind turbines in France and Italy in the past year. The U.K. is also part of REpower's core European markets.’
The change exclusively affects the parent corporation REpower Systems AG and does not apply to the German and international subsidiaries of the wind turbine manufacturer. All structures established under the AG form, especially contracts and legal relations with REpower, will be continued and remain unaffected with REpower Systems SE.