AEG 21604 G Manual de usuario descargar pdf (Pagina 67)

AEG PS Group operates in highly competitive markets and a failure to compete effectively may result

in a loss of market share and/or an inability to maintain or increase prices for its products and ser-

vices.

The market for custom and standard power system solutions is highly competitive and AEG PS Group

faces tough competition in both business segments: Renewable Energy Solutions and Energy Efficiency

Solutions. AEG PS Group competes, domestically and internationally, with individual producers, as well

as with vertically integrated manufacturers, some of which are bigger and have greater resources than

AEG PS Group. In the Renewable Energy Solutions segment, technical expertise, reputation and cus-

tomer references are regarded as critical factors in selecting a component supplier or a service provider,

whereas competition in the Energy Efficiency Solutions segment is mainly driven by price as well as reli-

ability and quality requirements. With regard to its power control systems and modules new market en-

trants from Asia may be successful in challenging AEG PS Group for certain projects where price rather

than technological leadership is the decisive factor. In both segments, competitors of AEG PS Group may

develop new or improved products that are better suited to meet customers' requirements, are superior to

AEG PS Group's products or may adapt more readily to new technologies. Additionally, new competitors

may emerge in the future. Such potential competitors may have substantially greater financial, technical,

manufacturing and other resources which may allow them to realize economies of scale, synergies and

purchase certain raw materials and key components at lower prices. There can be no assurance that AEG

PS Group's business, results of operations and financial condition will not be materially adversely af-

fected by increased competition in the markets in which it operates or that its products will be able to

compete successfully with those of its competitors.

AEG PS Group may be unable to keep pace with the technological development or to develop new

products efficiently and on a timely basis.

AEG PS Group offers technologically demanding products in both business segments. For instance, in the

Energy Efficiency Solutions segment, solutions are offered in industrial end markets where near 100 %

power availability, long lifetimes and error-free performance in very harsh environments are essential. As

a result, it is critical for AEG PS Group to develop technologically advanced products on a timely basis

that are capable of meeting customer requirements with cost-effective, rationalized and flexible functional

subassemblies and modules, such as inverters, converters, chargers, power semiconductor stacks and con-

trols. Maintaining a technologically advanced position will require continuous investments in research

and development, but there can be no assurance that AEG PS Group will have at all times sufficient re-

sources to make the necessary investments to maintain its position. In addition, AEG PS Group's respec-

tive investments into R&D would be lost in case such R&D did not result in products that the market

deems attractive and that can be sold at a price that covers the production costs plus an adequate margin.

There can be no assurance that new technological standards or new innovative products will not render

certain of AEG PS Group's products or services obsolete. A failure to keep pace with technological ad-

vances or to develop new products could have a material adverse impact on its business, results of opera-

tions and financial condition.

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AEG 21604 G Manual de usuario Pagina 67