MANHASSET, N.Y. Solar energy products supplier Q-Cells AG posted sales of 299.9 million Euro ($356.9 million) in 2005, up 132 percent from 128.7 million Euro ($153.4 million) in 2004.
Earnings for 2005 rose to 39.9 million Euro ($47.5 million) from 12 million Euro ($14.3 million) a year earlier.
Q-Cells (Thalheim, Germany) continued to expand production and now has an annual capacity of 234 megawatts at its Thalheim plant. The company also added 283 jobs, expanding its workforce to 767.
"In a year characterized more than ever before by the shortage of silicon, our key raw material, we managed to continue our strong growth," said Anton Miller, chief executive of Q-Cells AG, in a statement.
The company reported that CSG Solar AG and EverQ GmbH, affiliates of Q-Cells, will begin production at Thalheim the first half of 2006. Both use technologies that offer potential cost savings, according to Q-Cells.