re: Ann: Solco Strengthens Power and Project ... 5 April 2011ASX...

re: Ann: Solco Strengthens Power and Project ... 5 April 2011
ASX RELEASE
SOLCO STRENGTHENS ITS EMERGENT POWER DIVISION
The Board of Solco Limited (Solco, the Company) (ASX: SOO) is pleased to announce Executive
Director Mr Mark Norman will assume leadership of Solco?s emergent Power and Project division
as a key element of the Company?s growth strategy.
Expansion of the Power and Project division, which designs and builds grid, hybrid, mini-grid and
?Build Own Operate? solar projects throughout Australia, is integral to Solco?s medium to longterm
strategic growth plans.
Mr David Richardson will remain as Executive Chairman of the Company for the foreseeable future
and will continue managing the Company on a day-to-day basis.
Mr Richardson said Mr Norman?s exceptional track-record in leading Solco?s wholesale division
into a profitable business over the past three years - and his considerable technical and solar
industry knowledge - would provide a significant boost to the Power division.
?The strength of our wholesale business unit has created a positive environment where we are
able to focus more fully on driving further growth through our business,? said Mr Richardson.
?We see the development of our Power division as a major priority over the next three to five
years, and Mr Norman has the required skills and experience to harness the massive potential of
this new industry segment to grow and diversify the Company to ultimately drive further
shareholder value.?
Mr Norman said the primary objective of his new role would be to position Solco as a leader in
solar power generation market.
?Now the Company has achieved a dominant position as an importer and wholesale distributor of
solar systems, we are well positioned to use our market intelligence and competitive strength to
build an equally dominant position in solar power generation,? said Mr Norman.
?Demand for solar energy increases by around 30% every year, we aim to position Solco at the
forefront of this lucrative, high-margin solar industry.?
After returning from a period away due to illness, Mr Norman will commence his new role
immediately.
ENDS


this is great

?Demand for solar energy increases by around 30% every year, we aim to position Solco at the
forefront of this lucrative, high-margin solar industry.