Finland: Cencorp to open Finnish module production line01. February 2013 | Global PV markets, Industry & Suppliers, Investor news, Markets & Trends | By: Max Hall
Finnish company Cencorp Corporation has bucked the global trend of PV manufacturers by announcing its intent to start a production line in Europe.
The company has completed the acquisition of Dutch PV module manufacturer Sunweb Solar Energy Holding BV and intends to open a Finnish production facility in early 2014.
Cencorp made the acquisition of Sunweb for €450,000 (US$616,000) in cash and €550,000 worth of Cencorp shares – 4m shares valued at €0.12 each.
Cencorp CEO Iikka Savisalo said the new Finnish facility, which will use Sunweb's production line technology, will be built in either Salo or Mikkeli and will have an annual turnover of €50m when operating a peak capacity. The first orders for Finnish-made modules expected early this year.
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