Photovoltaic news and pv jobs

LDK and Sunways to join forces?

Following the announcement that LDK Solar is looking to strengthen its presence in the German photovoltaic market, it has been rumored that the Chinese company may partner up with Sunways AG.

Rumors abound that LDK will partner with Sunways. Image: LDK Solar.

The news, which was reported in yesterday’s edition of "Handelsblatt", helped to boost the German inverter manufacturer’s shares by almost 20 percent, thus increasing them to €4.37 each.

Prior to that, LDK’s financial executive Jack Lai said that the company wanted to build on its existing capabilities through acquisitions.

"We are very interested in joining with German companies," he told Handelsblatt in an interview. "Above all, is technology important." And although Lai did not expressly say that LDK was looking to take over Sunways, market sources have reported this.

The rational behind the proposed move is that German photovoltaic companies can combine their good brand image and technology with the Chinese labor costs.

The two photovoltaic companies already cooperate with each other since LDK sources a part of its solar cells from Sunways. "Before people marry, they get engaged, and before that, they go out with each another," added Lai, who went on to say that the two companies are in the last phase before the wedding.

Sunways didn’t comment on the rumors.