Hanergy officially acquires Q.Cells' Solibro26. September 2012 | Industry & Suppliers, Markets & Trends | By: Becky Beetz
Q.Cells SE has today officially handed its thin film photovoltaic subsidiary, Solibro GmbH, to China-based Hanergy Holding Group Limited. The 400-strong workforce will be kept on.
In a statement released by Q.Cells, it was said that Solibro has been officially transferred over to Hanergy today, September 26 for an undisclosed sum. It was announced at the start of June that the two companies had signed a takeover agreement at Hanergy's headquarters in Beijing, China.
As such, the Chinese private energy corporation, said to be the largest in the country, will acquire two locations in Germany's Bitterfeld-Wolfen, with around 370 employees, and one location in Uppsala, Sweden with approximately 30 employees.
Hanergy has said it intends to ramp up production of Solibro’s thin film copper indium gallium diselenide (CIGS) technology to 100 MW annually. With manufacturing facilities based in Germany’s Thalheim, the product is expected to serve Hanergy’s European customers.
"The takeover of Solibro by Hanergy is an important step towards maintaining the 'Solar Valley Thalheim'," emphasized Q.Cells’ insolvency administrator, Henning Schorisch today. "The fact that the buyer wants to maintain all of the local jobs shows that foreign investors consider attractive not only the technological expertise of local companies but also their production resources and innovative prowess."
On August 29, it was announced that South Korean conglomerate Hanwha Group had won its bid to take the insolvent Q.Cells over.
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